Pagaya Technologies (NASDAQ:PGY) Given “Buy” Rating at B. Riley

B. Riley reiterated their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a report published on Monday morning,Benzinga reports. They currently have a $36.00 target price on the stock.

A number of other research analysts also recently issued reports on the company. JMP Securities boosted their price objective on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. UBS Group started coverage on Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price objective on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Finally, Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Monday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.61.

Pagaya Technologies Trading Up 8.7 %

NASDAQ PGY opened at $11.48 on Monday. The business’s 50-day moving average price is $11.08 and its two-hundred day moving average price is $11.00. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $19.20. The firm has a market capitalization of $845.57 million, a PE ratio of -2.09 and a beta of 5.98. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $264.28 million. During the same quarter last year, the firm posted $0.24 EPS. On average, analysts expect that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Buying and Selling

In other Pagaya Technologies news, President Sanjiv Das sold 6,343 shares of the business’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 sale, the president now directly owns 75,528 shares of the company’s stock, valued at approximately $753,014.16. The trade was a 7.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tami Rosen sold 35,369 shares of the business’s 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 of the company’s stock, valued at $572,715. This represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,692 shares of company stock valued at $1,205,379. 49.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC bought a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $105,000. Jefferies Financial Group Inc. bought a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $93,000. PharVision Advisers LLC bought a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $109,000. Voloridge Investment Management LLC grew its holdings in shares of Pagaya Technologies by 200.9% in the fourth quarter. Voloridge Investment Management LLC now owns 149,978 shares of the company’s stock valued at $1,393,000 after acquiring an additional 100,127 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Pagaya Technologies by 1,942.7% in the fourth quarter. Two Sigma Advisers LP now owns 232,682 shares of the company’s stock valued at $2,162,000 after acquiring an additional 221,291 shares in the last quarter. 57.14% of the stock is 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.