Pagaya Technologies (NASDAQ:PGY) Given New $26.00 Price Target at JMP Securities

Pagaya Technologies (NASDAQ:PGY - Free Report) had its price objective hoisted by JMP Securities from $25.00 to $26.00 in a research report report published on Friday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup raised Pagaya Technologies from a "neutral" rating to a "buy" rating and upped 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 target on shares of Pagaya Technologies in a research report on Thursday, February 13th. Finally, UBS Group initiated coverage on Pagaya Technologies in a research report on Friday, December 20th. They issued a "neutral" rating and a $11.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.17.

Pagaya Technologies Price Performance

Pagaya Technologies stock traded up $1.58 during mid-day trading on Friday, hitting $16.95. The company's stock had a trading volume of 12,680,053 shares, compared to its average volume of 2,905,827. The stock has a market capitalization of $1.25 billion, a P/E ratio of -6.67 and a beta of 6.09. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $20.00. The stock's fifty day moving average price is $9.98 and its two-hundred day moving average price is $11.10. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.32). The firm 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 18.48% and a positive return on equity of 1.01%. During the same quarter last year, the company posted $0.24 EPS. Research analysts forecast that Pagaya Technologies will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 6,343 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $63,239.71. Following the completion of the sale, the president now owns 75,528 shares of the company's stock, valued at $753,014.16. The trade was a 7.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tami Rosen sold 35,369 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $15.00, for a total value of $530,535.00. Following the sale, the insider now directly owns 38,181 shares in the company, valued at $572,715. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,692 shares of company stock worth $1,205,379 over the last ninety days. 49.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC acquired a new position in Pagaya Technologies during the 4th quarter worth approximately $28,070,000. Point72 Asset Management L.P. increased its holdings in shares of Pagaya Technologies by 284.3% during the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company's stock worth $11,133,000 after buying an additional 886,539 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Pagaya Technologies by 359.6% in the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock valued at $7,675,000 after acquiring an additional 646,357 shares during the last quarter. State Street Corp lifted its stake in shares of Pagaya Technologies by 14.6% in the 3rd quarter. State Street Corp now owns 763,823 shares of the company's stock valued at $8,074,000 after acquiring an additional 97,135 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Pagaya Technologies by 310.6% during the 4th quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company's stock valued at $5,810,000 after acquiring an additional 473,063 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors.

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.