Brokerages Set Pagaya Technologies Ltd. (NASDAQ:PGY) Price Target at $24.25

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

A number of analysts recently weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $13.00 price objective on shares of Pagaya Technologies in a research report on Monday, August 12th. Benchmark initiated coverage on Pagaya Technologies in a research note on Monday, August 26th. They set a “buy” rating and a $21.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Oppenheimer started coverage on shares of Pagaya Technologies in a research note on Tuesday, October 1st. They set an “outperform” rating and a $12.00 target price for the company. Finally, B. Riley reduced their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, September 30th.

Insiders Place Their Bets

In related news, CFO Evangelos Perros sold 24,171 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $13.55, for a total transaction of $327,517.05. Following the transaction, the chief financial officer now directly owns 23,791 shares of the company’s stock, valued at $322,368.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Pagaya Technologies news, CFO Evangelos Perros sold 24,171 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $13.55, for a total transaction of $327,517.05. Following the completion of the sale, the chief financial officer now directly owns 23,791 shares of the company’s stock, valued at approximately $322,368.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Sanjiv Das sold 10,794 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $14.57, for a total transaction of $157,268.58. Following the completion of the sale, the president now owns 66,232 shares of the company’s stock, valued at approximately $965,000.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,453 shares of company stock worth $973,545 in the last three months. Corporate insiders own 19.70% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Pagaya Technologies during the first quarter valued at approximately $12,686,000. Hood River Capital Management LLC purchased a new stake in shares of Pagaya Technologies during the first quarter worth approximately $9,265,000. Quadrature Capital Ltd acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $1,079,000. Millennium Management LLC raised its holdings in Pagaya Technologies by 455.9% in the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock valued at $2,789,000 after acquiring an additional 179,235 shares during the last quarter. Finally, Divisadero Street Capital Management LP purchased a new position in shares of Pagaya Technologies during the 2nd quarter worth $2,273,000. 57.14% of the stock is owned by institutional investors and hedge funds.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $10.17 on Tuesday. The business’s 50 day moving average price is $12.53 and its 200-day moving average price is $12.06. Pagaya Technologies has a fifty-two week low of $8.56 and a fifty-two week high of $20.50. The company has a market cap of $721.05 million, a P/E ratio of -7.21 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 (NASDAQ:PGY) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The firm 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%. Sell-side analysts predict that Pagaya Technologies will post -0.11 earnings per share 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.