Pagaya Technologies’ (PGY) “Buy” Rating Reiterated at B. Riley

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “buy” rating restated by research analysts at B. Riley in a research note issued on Monday,Benzinga reports. They presently have a $36.00 target price on the stock. B. Riley’s target price points to a potential upside of 213.59% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Monday. JMP Securities raised their price target 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. Citigroup upgraded shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Finally, UBS Group began coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Pagaya Technologies has a consensus rating of “Moderate Buy” and an average price target of $20.61.

Pagaya Technologies Stock Up 8.7 %

Shares of PGY stock traded up $0.92 during trading hours on Monday, hitting $11.48. 2,393,382 shares of the company were exchanged, compared to its average volume of 2,754,852. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. Pagaya Technologies has a one year low of $8.20 and a one year high of $19.20. The business’s 50-day simple moving average is $11.06 and its two-hundred day simple moving average is $11.02. The stock has a market capitalization of $845.57 million, a price-to-earnings ratio of -2.09 and a beta of 5.98.

Pagaya Technologies (NASDAQ:PGY) 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). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The company had revenue of $279.39 million for the quarter, compared to the consensus estimate of $264.28 million. During the same period in the previous year, the business posted $0.24 EPS. Sell-side analysts predict that Pagaya Technologies will post 0.88 EPS for the current fiscal year.

Insider Activity at Pagaya Technologies

In related news, insider Tami Rosen sold 35,369 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 38,181 shares in the company, valued at approximately $572,715. This trade represents a 48.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Sanjiv Das sold 6,343 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $63,239.71. Following the completion of the transaction, the president now directly owns 75,528 shares of the company’s stock, valued at $753,014.16. This represents a 7.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,692 shares of company stock worth $1,205,379 over the last quarter. 49.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

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

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.