Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) have been given an average rating of "Moderate Buy" by the nine ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $22.89.

PGY has been the topic of a number of recent analyst reports. Benchmark initiated coverage on Pagaya Technologies in a research note on Monday, August 26th. They issued a "buy" rating and a $21.00 price objective on the stock. Wedbush reissued a "neutral" rating and issued a $13.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. Canaccord Genuity Group dropped their price objective on Pagaya Technologies from $42.00 to $32.00 and set a "buy" rating on the stock in a research note on Monday. Keefe, Bruyette & Woods initiated coverage on Pagaya Technologies in a research report on Monday, June 17th. They issued an "outperform" rating and a $23.00 target price for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Tuesday, September 3rd.

Insiders Place Their Bets

In other Pagaya Technologies news, insider Tami Rosen sold 8,025 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total transaction of $117,967.50. Following the completion of the sale, the insider now directly owns 55,751 shares of the company's stock, valued at approximately $819,539.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Avital Pardo sold 11,601 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $15.83, for a total value of $183,643.83. Following the transaction, the chief technology officer now owns 433,125 shares in the company, valued at approximately $6,856,368.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tami Rosen sold 8,025 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total value of $117,967.50. Following the completion of the transaction, the insider now owns 55,751 shares in the company, valued at approximately $819,539.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,453 shares of company stock valued at $973,545. Corporate insiders own 19.70% of the company's stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd purchased a new position in Pagaya Technologies in the fourth quarter valued at approximately $1,079,000. Counterpoint Mutual Funds LLC purchased a new position in Pagaya Technologies in the first quarter valued at approximately $275,000. Allspring Global Investments Holdings LLC purchased a new position in Pagaya Technologies in the first quarter valued at approximately $12,686,000. Cornerstone Investment Partners LLC purchased a new position in Pagaya Technologies in the first quarter valued at approximately $158,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Pagaya Technologies by 14.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company's stock valued at $6,818,000 after purchasing an additional 83,913 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company's stock.

Pagaya Technologies Trading Down 6.0 %

PGY traded down $0.63 during midday trading on Tuesday, hitting $9.94. 2,007,985 shares of the company were exchanged, compared to its average volume of 1,259,794. The firm has a market capitalization of $704.75 million, a P/E ratio of -7.50 and a beta of 6.41. Pagaya Technologies has a 1-year low of $8.56 and a 1-year high of $20.50. The firm's 50 day moving average price is $12.99 and its 200-day moving average price is $12.07. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.11). The business had revenue of $250.34 million during the quarter, compared to analyst estimates of $239.16 million. Pagaya Technologies had a negative net margin of 14.58% and a negative return on equity of 3.10%. As a group, equities analysts forecast that Pagaya Technologies will post -0.11 EPS for the current fiscal year.

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.