Pagaya Technologies (NASDAQ:PGY) Releases Quarterly Earnings Results, Misses Expectations By $0.32 EPS

Pagaya Technologies (NASDAQ:PGY) posted its quarterly earnings results on Thursday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.32), Zacks reports. Pagaya Technologies had a negative net margin of 18.48% and a positive return on equity of 1.01%. The business had revenue of $279.39 million during the quarter, compared to the consensus estimate of $264.28 million. During the same quarter in the prior year, the firm posted $0.24 EPS. Pagaya Technologies updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

Pagaya Technologies Stock Performance

NASDAQ:PGY traded up $0.73 during trading hours on Friday, hitting $15.37. 4,083,099 shares of the company were exchanged, compared to its average volume of 1,483,567. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.05 and a beta of 6.09. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $20.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The company’s 50 day moving average price is $9.77 and its 200-day moving average price is $11.13.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PGY. UBS Group began coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price objective on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research report on Thursday. JMP Securities lifted their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Friday. Finally, Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Pagaya Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $20.17.

Insiders Place Their Bets

In other news, CFO Evangelos Perros sold 21,305 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $212,410.85. Following the sale, the chief financial officer now owns 54,029 shares in the company, valued at $538,669.13. This represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tami Rosen sold 35,369 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the sale, the insider now owns 38,181 shares in the company, valued at $572,715. The trade was a 48.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,692 shares of company stock valued at $1,205,379. Insiders own 49.56% 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.