Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $22.89 Consensus Price Target from Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) have earned an average rating of "Moderate Buy" from the nine analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $22.89.

Several research firms have commented on PGY. Benchmark reiterated a "buy" rating and set a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 16th. B. Riley lowered their target price on shares of Pagaya Technologies from $48.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Canaccord Genuity Group cut their price target on Pagaya Technologies from $42.00 to $32.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Oppenheimer started coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They set an "outperform" rating and a $12.00 price objective for the company. Finally, JMP Securities reissued a "market outperform" rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Tuesday, September 3rd.

Insider Buying and Selling at Pagaya Technologies

In related news, CFO Evangelos Perros sold 24,171 shares of the stock in a transaction on Thursday, August 1st. The stock was 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 $322,368.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Evangelos Perros sold 24,171 shares of the firm's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $13.55, for a total value of $327,517.05. Following the completion of the sale, the chief financial officer now owns 23,791 shares in the company, valued at $322,368.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Yahav Yulzari bought 23,600 shares of the company's stock in a transaction on Monday, September 30th. The shares were acquired at an average price of $10.52 per share, for a total transaction of $248,272.00. Following the transaction, the insider now directly owns 311,637 shares in the company, valued at $3,278,421.24. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 66,275 shares of company stock valued at $940,334 in the last ninety days. Insiders own 19.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGY. nVerses Capital LLC acquired a new position in shares of Pagaya Technologies during the 2nd quarter worth $74,000. SG Americas Securities LLC purchased a new position in Pagaya Technologies during the 2nd quarter valued at about $101,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Pagaya Technologies during the second quarter worth about $166,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Pagaya Technologies in the second quarter valued at about $187,000. Finally, Castle Hook Partners LP acquired a new stake in shares of Pagaya Technologies in the first quarter valued at approximately $188,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Pagaya Technologies Trading Up 3.6 %

NASDAQ PGY traded up $0.42 during trading on Friday, hitting $12.00. The stock had a trading volume of 1,034,058 shares, compared to its average volume of 1,261,960. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $850.80 million, a PE ratio of -8.51 and a beta of 6.36. The firm has a 50 day moving average price of $11.94 and a 200 day moving average price of $12.13. Pagaya Technologies has a twelve month low of $8.56 and a twelve month high of $20.50.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The business had revenue of $250.34 million during the quarter, compared to analysts' expectations 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 research analysts forecast that Pagaya Technologies will post -0.15 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.