Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $37.25.

Several research analysts have issued reports on the stock. Benchmark restated a “buy” rating and issued a $48.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Canaccord Genuity Group boosted their target price on Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Keefe, Bruyette & Woods reduced their target price on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, January 2nd. Wall Street Zen lowered Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd.

Pagaya Technologies Price Performance

NASDAQ:PGY opened at $21.81 on Monday. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.16. The business’s 50-day moving average price is $23.04 and its 200 day moving average price is $28.36. Pagaya Technologies has a 52-week low of $8.50 and a 52-week high of $44.99. The firm has a market cap of $1.75 billion, a P/E ratio of -8.17 and a beta of 5.86.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data on Monday, November 10th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.46. Pagaya Technologies had a negative net margin of 15.32% and a positive return on equity of 31.59%. The company had revenue of $350.17 million during the quarter, compared to analyst estimates of $338.86 million. During the same quarter last year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. As a group, sell-side analysts predict that Pagaya Technologies will post 0.88 earnings per share for the current fiscal year.

Insider Activity

In other Pagaya Technologies news, insider Tami Rosen sold 7,561 shares of Pagaya Technologies stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $30.73, for a total transaction of $232,349.53. Following the transaction, the insider directly owned 37,544 shares in the company, valued at approximately $1,153,727.12. The trade was a 16.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Sanjiv Das sold 3,945 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $90,695.55. Following the completion of the sale, the president owned 129,986 shares of the company’s stock, valued at $2,988,378.14. The trade was a 2.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,256 shares of company stock worth $547,198 over the last 90 days. 47.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in Pagaya Technologies by 2,722.3% in the 1st quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock worth $3,204,000 after acquiring an additional 294,878 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Pagaya Technologies by 11.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock worth $653,000 after purchasing an additional 6,365 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after purchasing an additional 961,944 shares during the period. Goldman Sachs Group Inc. grew its position in Pagaya Technologies by 26.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after purchasing an additional 359,099 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in Pagaya Technologies by 24.1% in the 1st quarter. Voya Investment Management LLC now owns 29,452 shares of the company’s stock valued at $309,000 after buying an additional 5,723 shares during the period. 57.14% of the stock is owned by institutional investors and hedge funds.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.