FY2024 Earnings Forecast for PGY Issued By B. Riley

Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) - B. Riley issued their FY2024 earnings estimates for shares of Pagaya Technologies in a research note issued on Wednesday, January 29th. B. Riley analyst H. Goetsch anticipates that the company will earn $0.24 per share for the year. The consensus estimate for Pagaya Technologies' current full-year earnings is $0.18 per share. B. Riley also issued estimates for Pagaya Technologies' Q4 2024 earnings at $0.13 EPS and FY2025 earnings at $1.19 EPS.

PGY has been the subject of a number of other reports. Benchmark reaffirmed a "buy" rating and set a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 16th. Canaccord Genuity Group lowered their target price on Pagaya Technologies from $32.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. Finally, UBS Group started coverage on Pagaya Technologies in a research note on Friday, December 20th. They issued a "neutral" rating and a $11.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.00.

Pagaya Technologies Stock Up 3.1 %

NASDAQ:PGY traded up $0.31 during mid-day trading on Monday, hitting $10.42. The company had a trading volume of 1,270,763 shares, compared to its average volume of 1,469,827. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $20.00. The firm has a market capitalization of $767.61 million, a price-to-earnings ratio of -4.10 and a beta of 6.09. The business has a fifty day simple moving average of $9.56 and a 200-day simple moving average of $11.21.

Insider Buying and Selling

In other Pagaya Technologies news, insider Yahav Yulzari sold 150,000 shares of Pagaya Technologies stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the transaction, the insider now directly owns 161,637 shares in the company, valued at approximately $2,505,373.50. The trade was a 48.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Sanjiv Das sold 6,343 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $63,239.71. Following the completion of the transaction, the president now owns 75,528 shares in the company, valued at $753,014.16. This represents a 7.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,477 shares of company stock worth $2,879,920. Corporate insiders own 49.56% of the company's stock.

Hedge Funds Weigh In On Pagaya Technologies

Several large investors have recently made changes to their positions in the business. Millennium Management LLC boosted its position in shares of Pagaya Technologies by 455.9% during 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 in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Pagaya Technologies during the second quarter worth $187,000. Cubist Systematic Strategies LLC increased its position in Pagaya Technologies by 50.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 43,813 shares of the company's stock valued at $559,000 after acquiring an additional 14,629 shares in the last quarter. GSA Capital Partners LLP bought a new position in Pagaya Technologies in the third quarter valued at about $374,000. Finally, Intech Investment Management LLC acquired a new position in Pagaya Technologies in the third quarter valued at about $191,000. Institutional investors and hedge funds own 57.14% of the company's stock.

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.