Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have received an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $26.94.

Several brokerages recently weighed in on PGY. JMP Securities restated a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Friday, June 7th. Citigroup initiated coverage on Pagaya Technologies in a research note on Friday, May 24th. They set a “neutral” rating and a $14.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Pagaya Technologies in a research note on Thursday, May 9th. Wedbush decreased their target price on Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating for the company in a research report on Friday, March 15th. Finally, Keefe, Bruyette & Woods began coverage on shares of Pagaya Technologies in a research report on Monday, June 17th. They issued an “outperform” rating and a $23.00 price target on the stock.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das acquired 22,727 shares of the company’s stock in a transaction on Friday, April 5th. The shares were purchased at an average price of $10.57 per share, for a total transaction of $240,224.39. Following the completion of the purchase, the president now directly owns 22,727 shares of the company’s stock, valued at $240,224.39. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Nicole Torraco sold 4,743 shares of Pagaya Technologies stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $12.04, for a total transaction of $57,105.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Sanjiv Das purchased 22,727 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was bought at an average price of $10.57 per share, for a total transaction of $240,224.39. Following the purchase, the president now owns 22,727 shares in the company, valued at approximately $240,224.39. The disclosure for this purchase can be found here. Insiders have bought 194,807 shares of company stock worth $2,012,373 in the last ninety days. Insiders own 19.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PGY. Cornerstone Investment Partners LLC bought a new stake in shares of Pagaya Technologies in the first quarter valued at approximately $158,000. Castle Hook Partners LP acquired a new position in Pagaya Technologies in the 1st quarter valued at $188,000. Pathstone Family Office LLC acquired a new position in Pagaya Technologies in the 3rd quarter valued at $32,000. MBE Wealth Management LLC bought a new stake in shares of Pagaya Technologies during the 4th quarter valued at $31,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Pagaya Technologies during the 3rd quarter worth $38,000. Institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Price Performance

NASDAQ:PGY opened at $12.68 on Friday. The firm has a market cap of $899.01 million, a PE ratio of -8.99 and a beta of 6.49. The company’s 50-day moving average price is $11.46 and its two-hundred day moving average price is $13.18. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.61. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $33.96.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Thursday, May 9th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.19). The business had revenue of $237.00 million for the quarter, compared to the consensus estimate of $229.45 million. Pagaya Technologies had a negative return on equity of 4.23% and a negative net margin of 10.53%. During the same quarter in the previous year, the company posted ($0.48) EPS. On average, equities analysts anticipate that Pagaya Technologies will post -0.17 EPS for the current fiscal year.

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.