Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $22.89.

Several research analysts have recently weighed in on PGY shares. JMP Securities reiterated a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Canaccord Genuity Group dropped their target price on Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wedbush reiterated a “neutral” rating and issued a $13.00 price target on shares of Pagaya Technologies in a research report on Monday, August 12th. Benchmark restated a “buy” rating and issued a $21.00 target price on shares of Pagaya Technologies in a research note on Wednesday, October 16th. Finally, Oppenheimer began coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price target on the stock.

Insider Buying and Selling at Pagaya Technologies

In other news, CTO Avital Pardo sold 11,601 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $15.83, for a total value of $183,643.83. Following the transaction, the chief technology officer now owns 433,125 shares of the company’s stock, valued at $6,856,368.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Tami Rosen sold 8,025 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total transaction of $117,967.50. Following the transaction, the insider now directly owns 55,751 shares of the company’s stock, valued at approximately $819,539.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Avital Pardo sold 11,601 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $15.83, for a total value of $183,643.83. Following the completion of the sale, the chief technology officer now owns 433,125 shares of the company’s stock, valued at $6,856,368.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,275 shares of company stock worth $940,334 over the last three months. 19.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in Pagaya Technologies during the 1st quarter valued at about $12,686,000. Hood River Capital Management LLC bought a new stake in Pagaya Technologies in the first quarter valued at approximately $9,265,000. Millennium Management LLC boosted its stake in shares of Pagaya Technologies by 455.9% during the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock valued at $2,789,000 after purchasing an additional 179,235 shares during the period. Divisadero Street Capital Management LP bought a new position in shares of Pagaya Technologies in the second quarter worth approximately $2,273,000. Finally, Yarra Square Partners LP increased its stake in shares of Pagaya Technologies by 29.9% in the second quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock worth $7,903,000 after buying an additional 142,500 shares during the period. 57.14% of the stock is currently owned by institutional investors.

Pagaya Technologies Price Performance

PGY opened at $12.00 on Friday. The firm has a market cap of $850.80 million, a P/E ratio of -8.51 and a beta of 6.36. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.50 and a current ratio of 1.50. Pagaya Technologies has a fifty-two week low of $8.56 and a fifty-two week high of $20.50. The firm has a 50-day moving average of $11.94 and a 200 day moving average of $12.12.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The company had revenue of $250.34 million for the quarter, compared to analysts’ expectations of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. On average, research analysts expect that Pagaya Technologies will post -0.15 EPS for the current year.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.