Pagaya Technologies (NASDAQ:PGY) Price Target Raised to $26.00

Pagaya Technologies (NASDAQ:PGY) had its price objective lifted by JMP Securities from $25.00 to $26.00 in a research report sent to investors on Friday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

PGY has been the topic of several other reports. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday. Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. Finally, UBS Group began coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.17.

Pagaya Technologies Stock Up 5.0 %

Shares of NASDAQ PGY opened at $15.37 on Friday. The company’s 50-day simple moving average is $9.87 and its 200-day simple moving average is $11.09. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $20.00. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -6.05 and a beta of 6.09. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 18.48% and a positive return on equity of 1.01%. The company had revenue of $279.39 million during the quarter, compared to analyst estimates of $264.28 million. During the same quarter last year, the business earned $0.24 EPS. Equities analysts predict that Pagaya Technologies will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pagaya Technologies news, President Sanjiv Das sold 7,282 shares of Pagaya Technologies stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $64,445.70. Following the completion of the sale, the president now directly owns 91,163 shares in the company, valued at $806,792.55. This trade represents a 7.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tami Rosen sold 35,369 shares of Pagaya Technologies stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total transaction of $530,535.00. Following the sale, the insider now owns 38,181 shares of the company’s stock, valued at approximately $572,715. This represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,692 shares of company stock valued at $1,205,379 over the last ninety days. Company insiders own 49.56% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

A number of institutional investors have recently made changes to their positions in PGY. R Squared Ltd acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $30,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $43,000. Nisa Investment Advisors LLC acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $57,000. KLP Kapitalforvaltning AS acquired a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $67,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Pagaya Technologies by 15.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock valued at $101,000 after purchasing an additional 1,532 shares in the last quarter. 57.14% of the stock is currently 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.