Pagaya Technologies (NASDAQ:PGY) Earns Buy Rating from B. Riley

B. Riley restated their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a research report report published on Monday morning,Benzinga reports. B. Riley currently has a $36.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the stock. Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities lifted their price target on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $14.50 in a report on Friday, February 7th. Finally, UBS Group began coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pagaya Technologies has an average rating of “Moderate Buy” and a consensus target price of $20.61.

Pagaya Technologies Price Performance

Pagaya Technologies stock opened at $11.19 on Monday. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $19.20. The company’s 50 day moving average price is $11.15 and its two-hundred day moving average price is $10.97. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The stock has a market cap of $824.21 million, a P/E ratio of -2.03 and a beta of 5.98.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.32). The firm had revenue of $279.39 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.24 EPS. On average, equities analysts predict that Pagaya Technologies will post 0.88 earnings per share for the current year.

Insider Activity at Pagaya Technologies

In other news, insider Tami Rosen sold 21,547 shares of the business’s stock in a transaction on 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 in the company, valued at $733,293.50. The trade was a 22.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Sanjiv Das sold 6,343 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $63,239.71. Following the transaction, the president now owns 75,528 shares of the company’s stock, valued at $753,014.16. This trade represents a 7.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,692 shares of company stock worth $1,205,379. Corporate insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Invesco Ltd. grew its position in shares of Pagaya Technologies by 1.8% during the 4th quarter. Invesco Ltd. now owns 48,030 shares of the company’s stock valued at $446,000 after purchasing an additional 864 shares in the last quarter. Arizona State Retirement System grew its position in shares of Pagaya Technologies by 10.9% during the 4th quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock valued at $104,000 after purchasing an additional 1,092 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Pagaya Technologies by 15.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock worth $101,000 after acquiring an additional 1,532 shares in the last quarter. Tidal Investments LLC grew its position in Pagaya Technologies by 4.6% in the third 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 position in Pagaya Technologies by 5.4% in the fourth 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 in the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

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.