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

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) has been given an average rating of "Moderate Buy" by the nine brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $20.61.

A number of brokerages have commented on PGY. Canaccord Genuity Group reaffirmed a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 13th. JMP Securities upped their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. Citigroup raised shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. UBS Group began coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They issued a "neutral" rating and a $11.00 price objective on the stock. Finally, B. Riley reiterated a "buy" rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th.

Pagaya Technologies Stock Down 7.8 %

NASDAQ PGY traded down $0.90 on Tuesday, hitting $10.66. The stock had a trading volume of 1,479,636 shares, compared to its average volume of 1,724,726. The business's fifty day moving average price is $11.55 and its 200 day moving average price is $10.92. The stock has a market cap of $802.68 million, a price-to-earnings ratio of -1.94 and a beta of 5.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $19.20.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.32). The company had revenue of $279.39 million during the quarter, compared to analysts' expectations of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same period in the previous year, the business earned $0.24 earnings per share. Equities research analysts anticipate that Pagaya Technologies will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Evangelos Perros sold 21,305 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 transaction of $212,410.85. Following the completion of the transaction, the chief financial officer now owns 54,029 shares in the company, valued at $538,669.13. This represents a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tami Rosen sold 35,369 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the transaction, the insider now directly owns 38,181 shares in the company, valued at $572,715. This represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,692 shares of company stock worth $1,205,379. Company insiders own 49.56% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PGY. R Squared Ltd purchased a new stake in shares of Pagaya Technologies during the fourth quarter worth $30,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Pagaya Technologies during the 4th quarter valued at about $43,000. Nisa Investment Advisors LLC acquired a new stake in Pagaya Technologies in the 4th quarter valued at about $57,000. KLP Kapitalforvaltning AS acquired a new stake in Pagaya Technologies in the 4th quarter valued at about $67,000. Finally, Jefferies Financial Group Inc. purchased a new position in Pagaya Technologies in the 4th quarter worth approximately $93,000. 57.14% of the stock is owned by institutional investors and hedge funds.

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.