Brokers Offer Predictions for PGY FY2024 Earnings

Pagaya Technologies Ltd. (NASDAQ:PGY) – B. Riley issued their FY2024 earnings per share estimates for shares of Pagaya Technologies in a research report issued to clients and investors on Wednesday, January 29th. B. Riley analyst H. Goetsch forecasts that the company will post earnings per share of $0.24 for the year. The consensus estimate for Pagaya Technologies’ current full-year earnings is $0.15 per share. B. Riley also issued estimates for Pagaya Technologies’ Q4 2024 earnings at $0.13 EPS and FY2025 earnings at $1.19 EPS.

Several other research analysts have also recently issued reports on PGY. UBS Group initiated coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 target price for the company. Canaccord Genuity Group decreased their price objective on shares of Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Pagaya Technologies Stock Performance

Shares of PGY opened at $9.28 on Monday. The company has a market capitalization of $683.56 million, a price-to-earnings ratio of -3.65 and a beta of 6.12. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $20.00. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average price of $9.58 and a 200 day moving average price of $11.30.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. boosted its stake in shares of Pagaya Technologies by 4,374.9% in the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock valued at $3,296,000 after buying an additional 304,890 shares in the last quarter. Arizona PSPRS Trust purchased a new stake in shares of Pagaya Technologies during the 3rd quarter worth $2,183,000. Millennium Management LLC grew its stake in shares of Pagaya Technologies by 455.9% during the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after purchasing an additional 179,235 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Pagaya Technologies by 502.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock valued at $1,610,000 after purchasing an additional 127,012 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Pagaya Technologies by 14.6% in the third quarter. State Street Corp now owns 763,823 shares of the company’s stock valued at $8,074,000 after purchasing an additional 97,135 shares during the period. Institutional investors and hedge funds own 57.14% of the company’s stock.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 7,659 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $12.00, for a total transaction of $91,908.00. Following the completion of the transaction, the insider now owns 65,857 shares in the company, valued at approximately $790,284. This represents a 10.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Yahav Yulzari sold 150,000 shares of Pagaya Technologies stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $15.50, for a total transaction of $2,325,000.00. Following the completion of the sale, the insider now directly owns 161,637 shares in the company, valued at approximately $2,505,373.50. The trade was a 48.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 214,136 shares of company stock worth $2,971,828 in the last quarter. Company insiders own 49.56% 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.