Pagaya Technologies (NASDAQ:PGY) Earns Outperform Rating from Analysts at Oppenheimer

Research analysts at Oppenheimer started coverage on shares of Pagaya Technologies (NASDAQ:PGY - Get Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage set an "outperform" rating and a $12.00 price target on the stock. Oppenheimer's target price would suggest a potential upside of 19.88% from the stock's current price.

A number of other research firms also recently weighed in on PGY. Keefe, Bruyette & Woods assumed coverage on shares of Pagaya Technologies in a research report on Monday, June 17th. They issued an "outperform" rating and a $23.00 target price for the company. Benchmark assumed coverage on shares of Pagaya Technologies in a research report on Monday, August 26th. They issued a "buy" rating and a $21.00 target price for the company. Wedbush reaffirmed a "neutral" rating and issued a $13.00 target price on shares of Pagaya Technologies in a research report on Monday, August 12th. 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. Finally, Canaccord Genuity Group decreased their target price on shares of Pagaya Technologies from $42.00 to $32.00 and set a "buy" rating for the company in a research report on Monday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Pagaya Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.89.

Pagaya Technologies Trading Down 5.3 %

NASDAQ PGY traded down $0.56 during trading hours on Tuesday, hitting $10.01. The company's stock had a trading volume of 1,537,835 shares, compared to its average volume of 1,256,900. The stock has a fifty day moving average of $12.99 and a 200 day moving average of $12.07. Pagaya Technologies has a twelve month low of $8.56 and a twelve month high of $20.50. The firm has a market capitalization of $709.71 million, a P/E ratio of -7.50 and a beta of 6.41. 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 posted its earnings results on Friday, August 9th. The company reported ($0.15) earnings per share 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 return on equity of 3.10% and a negative net margin of 14.58%. Equities research analysts forecast that Pagaya Technologies will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Pagaya Technologies

In other news, insider Tami Rosen sold 8,025 shares of the firm's stock in a transaction dated Wednesday, July 31st. The shares were 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 owns 55,751 shares in the company, valued at approximately $819,539.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Tami Rosen sold 8,025 shares of the firm's stock in a transaction dated Wednesday, July 31st. The shares were 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 owns 55,751 shares in the company, valued at approximately $819,539.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Yahav Yulzari sold 11,662 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $15.78, for a total transaction of $184,026.36. Following the sale, the executive now owns 288,037 shares of the company's stock, valued at approximately $4,545,223.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,453 shares of company stock worth $973,545. 19.70% of the stock is owned by insiders.

Institutional Trading of Pagaya Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC acquired a new stake in Pagaya Technologies in the 2nd quarter worth about $74,000. SG Americas Securities LLC acquired a new position in shares of Pagaya Technologies in the 2nd quarter valued at approximately $101,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Pagaya Technologies in the 2nd quarter valued at approximately $166,000. Cubist Systematic Strategies LLC raised its position in shares of 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 buying an additional 14,629 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Pagaya Technologies in the 2nd quarter valued at approximately $187,000. Institutional investors and hedge funds own 57.14% of the company's stock.

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.