Pagaya Technologies (PGY) to Release Earnings on Tuesday

Pagaya Technologies (NASDAQ:PGY - Get Free Report) is set to post its quarterly earnings results before the market opens on Tuesday, November 12th. Analysts expect Pagaya Technologies to post earnings of $0.25 per share for the quarter. Pagaya Technologies has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Persons that wish to listen to the company's earnings conference call can do so using this link.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The firm 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%. On average, analysts expect Pagaya Technologies to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Pagaya Technologies Trading Up 3.3 %

Pagaya Technologies stock traded up $0.35 during mid-day trading on Tuesday, hitting $11.04. 947,449 shares of the company's stock were exchanged, compared to its average volume of 1,256,070. The company's 50 day simple moving average is $11.81 and its 200-day simple moving average is $12.20. 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 firm has a market capitalization of $792.89 million, a P/E ratio of -5.43 and a beta of 6.33. Pagaya Technologies has a fifty-two week low of $8.56 and a fifty-two week high of $20.50.

Analyst Ratings Changes

PGY has been the subject of several research reports. Benchmark reaffirmed a "buy" rating and set a $21.00 price target on shares of Pagaya Technologies in a research note on Wednesday, October 16th. JMP Securities reiterated a "market outperform" rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Canaccord Genuity Group cut their price target on shares of Pagaya Technologies from $42.00 to $32.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Oppenheimer assumed coverage on Pagaya Technologies in a report on Tuesday, October 1st. They issued an "outperform" rating and a $12.00 price objective for the company. Finally, Wedbush reiterated a "neutral" rating and set a $13.00 target price on shares of Pagaya Technologies in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.89.

Insider Buying and Selling

In other news, insider Tami Rosen sold 17,570 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.06, for a total value of $211,894.20. Following the completion of the sale, the insider now directly owns 73,516 shares in the company, valued at approximately $886,602.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Avital Pardo sold 11,601 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.83, for a total transaction of $183,643.83. Following the sale, the chief technology officer now owns 433,125 shares in the company, valued at approximately $6,856,368.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tami Rosen sold 17,570 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.06, for a total transaction of $211,894.20. Following the transaction, the insider now owns 73,516 shares of the company's stock, valued at approximately $886,602.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,649 shares of company stock valued at $706,744. 49.56% of the stock is owned by company insiders.

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.