Pagaya Technologies (NASDAQ:PGY) Receives Buy Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a research note published on Monday,Benzinga reports. Benchmark currently has a $25.00 price objective on the stock.

A number of other brokerages have also commented on PGY. UBS Group began coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They set a “neutral” rating and a $11.00 target price on the stock. Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. Finally, JMP Securities lifted their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.61.

Pagaya Technologies Stock Performance

Shares of NASDAQ:PGY opened at $11.48 on Monday. The firm has a market cap of $845.57 million, a PE ratio of -2.09 and a beta of 5.98. The firm’s 50 day simple moving average is $11.08 and its 200-day simple moving average is $11.00. Pagaya Technologies has a one year low of $8.20 and a one year high of $19.20. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). The company had revenue of $279.39 million for the quarter, compared to analysts’ expectations 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 last year, the business posted $0.24 earnings per share. As a group, equities analysts predict that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 6,343 shares of Pagaya Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $63,239.71. Following the transaction, the president now directly owns 75,528 shares of the company’s stock, valued at approximately $753,014.16. The trade was a 7.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Evangelos Perros sold 21,305 shares of Pagaya Technologies stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $212,410.85. Following the completion of the transaction, the chief financial officer now directly owns 54,029 shares in the company, valued at $538,669.13. This represents a 28.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,692 shares of company stock valued at $1,205,379 over the last ninety days. 49.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors and hedge funds have recently bought and sold shares of PGY. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth $105,000. Jefferies Financial Group Inc. acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth $93,000. PharVision Advisers LLC acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth $109,000. Voloridge Investment Management LLC lifted its stake in shares of Pagaya Technologies by 200.9% during the fourth quarter. Voloridge Investment Management LLC now owns 149,978 shares of the company’s stock worth $1,393,000 after buying an additional 100,127 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Pagaya Technologies by 1,942.7% during the fourth quarter. Two Sigma Advisers LP now owns 232,682 shares of the company’s stock worth $2,162,000 after buying an additional 221,291 shares during the period. 57.14% of the stock is 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.