Brokerages Set Pagaya Technologies Ltd. (NASDAQ:PGY) Price Target at $20.61

Pagaya Technologies Ltd. (NASDAQ:PGY) has received a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. Two 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 brokerages that have covered the stock in the last year is $20.61.

Several analysts have issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Citigroup raised 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 report on Friday, February 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, JMP Securities lifted their target price on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $11.56 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The company has a market cap of $870.44 million, a PE ratio of -2.10 and a beta of 5.98. The company’s fifty day simple moving average is $11.51 and its 200-day simple moving average is $10.93. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last released 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). 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 analysts’ expectations of $264.28 million. During the same period last year, the business earned $0.24 earnings per share. As a group, equities research analysts anticipate that Pagaya Technologies will post 0.88 EPS for the current year.

Insiders Place Their Bets

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 transaction, the insider now owns 38,181 shares in the company, valued at $572,715. This trade represents a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Sanjiv Das sold 6,343 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $63,239.71. Following the completion of the sale, the president now directly owns 75,528 shares in the company, 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 a total of 101,692 shares of company stock valued at $1,205,379 in the last quarter. Insiders own 49.56% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. raised its holdings in shares of Pagaya Technologies by 1.8% in the 4th quarter. Invesco Ltd. now owns 48,030 shares of the company’s stock worth $446,000 after purchasing an additional 864 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Pagaya Technologies by 10.9% in the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock valued at $104,000 after buying an additional 1,092 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Pagaya Technologies by 15.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock valued at $101,000 after acquiring an additional 1,532 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Pagaya Technologies by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 41,322 shares of the company’s stock worth $437,000 after acquiring an additional 1,826 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Pagaya Technologies by 5.4% in the 4th quarter. California State Teachers Retirement System now owns 35,771 shares of the company’s stock worth $332,000 after acquiring an additional 1,848 shares during the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

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.