Pagaya Technologies' (PGY) "Buy" Rating Reaffirmed at Benchmark

Pagaya Technologies (NASDAQ:PGY - Get Free Report)'s stock had its "buy" rating restated by research analysts at Benchmark in a report released on Monday,Benzinga reports. They currently have a $25.00 price target on the stock. Benchmark's price target would indicate a potential upside of 119.88% from the company's current price.

A number of other equities research analysts also recently issued reports on PGY. Canaccord Genuity Group reiterated a "buy" rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. Citigroup upgraded shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. JMP Securities boosted their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. Finally, UBS Group initiated coverage on Pagaya Technologies in a report on Friday, December 20th. They issued a "neutral" rating and a $11.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $20.61.

Pagaya Technologies Price Performance

Shares of NASDAQ PGY traded up $0.06 during midday trading on Monday, reaching $11.37. The company's stock had a trading volume of 1,255,157 shares, compared to its average volume of 1,693,340. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $837.47 million, a P/E ratio of -2.07 and a beta of 5.98. The business's 50 day moving average price is $11.20 and its two-hundred day moving average price is $10.97. Pagaya Technologies has a fifty-two week low of $8.20 and a fifty-two week high of $19.20.

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Pagaya Technologies (NASDAQ:PGY - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.32). The company had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, analysts forecast that Pagaya Technologies will post 0.88 EPS for the current fiscal year.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 6,343 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $63,239.71. Following the transaction, the president now directly owns 75,528 shares in the company, valued at approximately $753,014.16. This represents a 7.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tami Rosen sold 35,369 shares of Pagaya Technologies stock in a transaction on Thursday, February 13th. The shares were 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 of the company's stock, valued at $572,715. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,692 shares of company stock worth $1,205,379 over the last three months. 49.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in shares of Pagaya Technologies by 5.4% during the fourth quarter. California State Teachers Retirement System now owns 35,771 shares of the company's stock valued at $332,000 after purchasing an additional 1,848 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Pagaya Technologies in the fourth quarter worth approximately $105,000. Jefferies Financial Group Inc. acquired a new stake in Pagaya Technologies in the fourth quarter valued at approximately $93,000. PharVision Advisers LLC bought a new stake in shares of Pagaya Technologies during the fourth quarter valued at approximately $109,000. Finally, Voloridge Investment Management LLC raised its position in shares of Pagaya Technologies by 200.9% during the fourth quarter. Voloridge Investment Management LLC now owns 149,978 shares of the company's stock worth $1,393,000 after purchasing an additional 100,127 shares during the period. 57.14% of the stock is owned by institutional investors.

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.