Pagaya Technologies (NASDAQ:PGY) Issues Earnings Results

Pagaya Technologies (NASDAQ:PGY - Get Free Report) released its earnings results on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32), Zacks reports. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The firm had revenue of $279.39 million during the quarter, compared to analysts' expectations of $264.28 million. During the same period in the prior year, the business earned $0.24 earnings per share. Pagaya Technologies updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

Pagaya Technologies Price Performance

Pagaya Technologies stock traded down $0.45 during midday trading on Wednesday, hitting $16.50. 4,074,606 shares of the company's stock were exchanged, compared to its average volume of 2,942,674. The stock has a 50-day moving average price of $10.26 and a two-hundred day moving average price of $11.16. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $20.00. The company has a market cap of $1.22 billion, a P/E ratio of -3.00 and a beta of 6.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17.

Insider Activity

In other Pagaya Technologies news, CFO Evangelos Perros sold 21,305 shares of Pagaya Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $212,410.85. Following the completion of the sale, the chief financial officer now owns 54,029 shares of the company's stock, valued at $538,669.13. The trade was a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tami Rosen sold 21,547 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $214,823.59. Following the transaction, the insider now owns 73,550 shares in the company, valued at $733,293.50. This trade represents a 22.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,692 shares of company stock worth $1,205,379. 49.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on PGY. Citigroup upgraded shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and increased their target price for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities lifted their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Finally, UBS Group assumed coverage on Pagaya Technologies in a research report on Friday, December 20th. They set a "neutral" rating and a $11.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.17.

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.