Canaccord Genuity Group Reaffirms “Buy” Rating for Pagaya Technologies (NASDAQ:PGY)

Canaccord Genuity Group reiterated their buy rating on shares of Pagaya Technologies (NASDAQ:PGYFree Report) in a report issued on Thursday, Benzinga reports. The firm currently has a $42.00 price objective on the stock.

A number of other analysts have also issued reports on the stock. JMP Securities reduced their price target on shares of Pagaya Technologies from $30.00 to $25.00 and set a market outperform rating for the company in a research report on Monday, April 8th. Wedbush dropped their price objective on shares of Pagaya Technologies from $18.00 to $11.50 and set a neutral rating on the stock in a research note on Friday, March 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Pagaya Technologies has an average rating of Moderate Buy and an average target price of $29.75.

View Our Latest Stock Report on PGY

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY opened at $12.68 on Thursday. The company’s fifty day moving average is $11.00 and its two-hundred day moving average is $13.99. The company has a market cap of $66.57 million, a P/E ratio of -8.99 and a beta of 6.55. Pagaya Technologies has a 12-month low of $8.56 and a 12-month high of $33.96. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.49.

Pagaya Technologies (NASDAQ:PGYGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). The business had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $229.45 million. Pagaya Technologies had a negative net margin of 10.53% and a negative return on equity of 4.30%. During the same quarter in the prior year, the firm posted ($0.48) EPS. Equities analysts expect that Pagaya Technologies will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pagaya Technologies news, President Sanjiv Das acquired 22,727 shares of Pagaya Technologies stock in a transaction that occurred on Friday, April 5th. The stock was acquired at an average price of $10.57 per share, with a total value of $240,224.39. Following the purchase, the president now owns 22,727 shares in the company, valued at $240,224.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Tami Rosen acquired 10,000 shares of Pagaya Technologies stock in a transaction dated Friday, April 5th. The stock was acquired at an average cost of $10.47 per share, for a total transaction of $104,700.00. Following the completion of the purchase, the insider now owns 28,818 shares of the company’s stock, valued at $301,724.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Sanjiv Das acquired 22,727 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were purchased at an average cost of $10.57 per share, with a total value of $240,224.39. Following the completion of the acquisition, 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. Over the last quarter, insiders have bought 194,807 shares of company stock worth $2,012,373. Insiders own 19.70% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently bought and sold shares of PGY. Cornerstone Investment Partners LLC bought a new position in Pagaya Technologies during the first quarter worth $158,000. Pathstone Family Office LLC bought a new position in shares of Pagaya Technologies during the 3rd quarter worth about $32,000. MBE Wealth Management LLC acquired a new position in shares of Pagaya Technologies during the fourth quarter valued at about $31,000. Fermata Advisors LLC bought a new stake in shares of Pagaya Technologies in the third quarter valued at about $38,000. Finally, Acadian Asset Management LLC acquired a new stake in Pagaya Technologies during the third quarter worth about $38,000. 57.14% of the stock is currently owned by institutional investors.

About Pagaya Technologies

(Get Free Report)

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.

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Analyst Recommendations for Pagaya Technologies (NASDAQ:PGY)

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