Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $20.61.

Several analysts have issued reports on PGY shares. B. Riley reiterated a “buy” rating and issued a $36.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Benchmark reissued a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research note on Monday, March 17th. Citigroup upgraded 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 note on Friday, February 7th. Canaccord Genuity Group reiterated a “buy” rating and set 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 report on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective for the company.

Pagaya Technologies Stock Performance

NASDAQ:PGY opened at $10.48 on Tuesday. The business’s fifty day moving average is $11.59 and its 200 day moving average is $10.89. The firm has a market cap of $789.12 million, a price-to-earnings ratio of -1.91 and a beta of 5.98. 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 52-week low of $8.20 and a 52-week high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The company had revenue of $279.39 million for the quarter, compared to the consensus estimate of $264.28 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. Research analysts predict that Pagaya Technologies will post 0.88 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tami Rosen sold 35,369 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $15.00, for a total transaction of $530,535.00. Following the transaction, the insider now directly owns 38,181 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Evangelos Perros sold 21,305 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 $212,410.85. Following the completion of the sale, the chief financial officer now directly owns 54,029 shares of the company’s stock, valued at approximately $538,669.13. This trade represents a 28.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,692 shares of company stock valued at $1,205,379. 49.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in Pagaya Technologies during the 3rd quarter valued at $191,000. Charles Schwab Investment Management Inc. raised its stake in shares of Pagaya Technologies by 17.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock valued at $1,184,000 after acquiring an additional 16,533 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Pagaya Technologies by 13.2% during the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock worth $176,000 after purchasing an additional 1,937 shares during the period. FMR LLC grew its stake in shares of Pagaya Technologies by 8.3% in the third quarter. FMR LLC now owns 524,570 shares of the company’s stock worth $5,545,000 after purchasing an additional 40,031 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Pagaya Technologies during the 3rd quarter valued at about $787,000. Institutional investors 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.