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

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $26.94.

PGY has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Pagaya Technologies in a report on Monday, June 17th. They set an “outperform” rating and a $23.00 price target on the stock. Citigroup started coverage on shares of Pagaya Technologies in a report on Friday, May 24th. They set a “neutral” rating and a $14.00 price target on the stock. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price objective on shares of Pagaya Technologies in a research report on Thursday, May 9th. Wedbush reduced their price objective on shares of 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, Benchmark restated a “buy” rating and set a $22.00 price objective on shares of Pagaya Technologies in a research report on Friday, May 10th.

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY opened at $12.76 on Friday. The company’s fifty day moving average price is $11.52 and its 200 day moving average price is $13.17. Pagaya Technologies has a 1 year low of $8.56 and a 1 year high of $33.96. The company has a market capitalization of $904.68 million, a PE ratio of -9.05 and a beta of 6.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.36 and a current ratio of 2.36.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). Pagaya Technologies had a negative return on equity of 4.23% and a negative net margin of 10.53%. The firm had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $229.45 million. During the same period last year, the company posted ($0.48) earnings per share. On average, research analysts predict that Pagaya Technologies will post -0.17 earnings per share for the current year.

Insider Activity

In other Pagaya Technologies news, President Sanjiv Das bought 22,727 shares of Pagaya Technologies stock in a transaction dated Friday, April 5th. The stock was acquired at an average cost of $10.57 per share, for a total transaction of $240,224.39. Following the completion of the transaction, the president now directly owns 22,727 shares of the company’s stock, valued at $240,224.39. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Pagaya Technologies news, President Sanjiv Das bought 22,727 shares of Pagaya Technologies stock in a transaction dated Friday, April 5th. The stock was acquired at an average cost of $10.57 per share, for a total transaction of $240,224.39. Following the completion of the transaction, the president now directly owns 22,727 shares of the company’s stock, valued at $240,224.39. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Evangelos Perros sold 11,293 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $12.15, for a total transaction of $137,209.95. The disclosure for this sale can be found here. Insiders acquired 194,807 shares of company stock worth $2,012,373 over the last three months. Insiders own 19.70% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. MBE Wealth Management LLC acquired a new stake in Pagaya Technologies during the fourth quarter worth about $31,000. Pathstone Family Office LLC acquired a new stake in Pagaya Technologies during the third quarter worth about $32,000. Acadian Asset Management LLC acquired a new stake in Pagaya Technologies during the third quarter worth about $38,000. Cornerstone Investment Partners LLC acquired a new stake in Pagaya Technologies during the first quarter worth about $158,000. Finally, Castle Hook Partners LP purchased a new position in Pagaya Technologies during the first quarter worth about $188,000. 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.