Pagaya Technologies (NASDAQ:PGY) Receives Buy Rating from Benchmark

Benchmark restated their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a report released on Monday,Benzinga reports. The firm currently has a $25.00 target price on the stock.

A number of other equities research analysts have also issued reports on the company. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. JMP Securities increased their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Finally, UBS Group assumed coverage on Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.61.

Pagaya Technologies Trading Up 8.7 %

NASDAQ:PGY opened at $11.48 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $845.57 million, a price-to-earnings ratio of -2.09 and a beta of 5.98. Pagaya Technologies has a one year low of $8.20 and a one year high of $19.20. The business has a fifty day moving average price of $11.08 and a 200-day moving average price of $11.00.

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

Insider Buying and Selling at Pagaya Technologies

In related news, President Sanjiv Das sold 6,343 shares of the 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 transaction, the president now owns 75,528 shares of the company’s stock, valued at approximately $753,014.16. This trade represents a 7.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tami Rosen sold 21,547 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $214,823.59. Following the completion of the transaction, the insider now directly owns 73,550 shares of the company’s stock, valued at approximately $733,293.50. The trade was a 22.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,692 shares of company stock valued at $1,205,379 in the last 90 days. Insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Frontier Capital Management Co. LLC bought a new stake in Pagaya Technologies in the fourth quarter worth about $28,070,000. Point72 Asset Management L.P. lifted its stake in Pagaya Technologies by 284.3% in the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock worth $11,133,000 after purchasing an additional 886,539 shares during the last quarter. Two Sigma Investments LP lifted its stake in Pagaya Technologies by 359.6% in the fourth quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock worth $7,675,000 after purchasing an additional 646,357 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Pagaya Technologies by 310.6% in the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock worth $5,810,000 after purchasing an additional 473,063 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in Pagaya Technologies in the fourth quarter worth about $2,701,000. Institutional investors 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.