Pagaya Technologies (NASDAQ:PGY) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Pagaya Technologies (NASDAQ:PGY) from a buy rating to a strong-buy rating in a research report report published on Saturday.

A number of other analysts have also commented on PGY. Citigroup boosted their price target on shares of Pagaya Technologies from $16.50 to $40.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Canaccord Genuity Group lifted their price objective on shares of Pagaya Technologies from $36.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Benchmark reaffirmed a “buy” rating and issued a $48.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Finally, JMP Securities lifted their price target on Pagaya Technologies from $26.00 to $35.00 and gave the company a “market outperform” rating in a research note on Monday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.67.

Pagaya Technologies Stock Up 2.2%

PGY stock opened at $23.92 on Friday. The stock’s 50 day simple moving average is $31.26 and its 200 day simple moving average is $26.29. Pagaya Technologies has a fifty-two week low of $8.20 and a fifty-two week high of $44.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.42 and a current ratio of 11.41. The company has a market cap of $1.83 billion, a P/E ratio of -8.96 and a beta of 5.83.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Monday, November 10th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.46. The firm had revenue of $350.17 million during the quarter, compared to analysts’ expectations of $338.86 million. Pagaya Technologies had a positive return on equity of 31.59% and a negative net margin of 15.32%.The company’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Pagaya Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts expect that Pagaya Technologies will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tami Rosen sold 15,026 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $30.73, for a total value of $461,748.98. Following the completion of the transaction, the insider directly owned 28,181 shares of the company’s stock, valued at $866,002.13. This represents a 34.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Evangelos Perros sold 12,754 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $30.20, for a total value of $385,170.80. Following the sale, the chief financial officer directly owned 78,163 shares of the company’s stock, valued at $2,360,522.60. The trade was a 14.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 95,081 shares of company stock valued at $3,475,010. Corporate insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PGY. JPMorgan Chase & Co. increased its position in shares of Pagaya Technologies by 436.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock valued at $29,534,000 after purchasing an additional 1,127,242 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Pagaya Technologies by 1,231.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock worth $25,591,000 after buying an additional 1,110,208 shares during the last quarter. Millennium Management LLC grew its position in Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after buying an additional 961,944 shares during the period. Marshall Wace LLP increased its holdings in Pagaya Technologies by 1,556.3% during the third quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock worth $19,952,000 after buying an additional 631,435 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Pagaya Technologies in the first quarter worth about $6,465,000. Institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

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.