Pagaya Technologies (NASDAQ:PGY) Receives “Buy” Rating from B. Riley

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a report issued on Monday,Benzinga reports. They presently have a $36.00 target price on the stock. B. Riley’s price objective would indicate a potential upside of 217.18% from the stock’s current price.

Several other research firms also recently weighed in on PGY. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Monday. JMP Securities upped their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. UBS Group assumed coverage on Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price objective on the stock. Finally, Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $13.00 to $14.50 in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies has a consensus rating of “Moderate Buy” and an average target price of $20.61.

Pagaya Technologies Stock Performance

Pagaya Technologies stock opened at $11.35 on Monday. 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 company has a market capitalization of $836.00 million, a P/E ratio of -2.06 and a beta of 5.98. The stock’s 50 day moving average is $11.11 and its 200 day moving average is $10.97. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $19.20.

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

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 21,547 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 owns 73,550 shares in the company, valued at $733,293.50. The trade was a 22.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Evangelos Perros sold 21,305 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $212,410.85. Following the completion of the sale, the chief financial officer now owns 54,029 shares of the company’s stock, valued at $538,669.13. The trade was a 28.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,692 shares of company stock valued at $1,205,379. 49.56% of the stock is currently owned by insiders.

Institutional Trading of Pagaya Technologies

A number of hedge funds have recently bought and sold shares of the stock. Frontier Capital Management Co. LLC purchased a new stake in Pagaya Technologies during the fourth quarter worth $28,070,000. Point72 Asset Management L.P. lifted its holdings in Pagaya Technologies by 284.3% during the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock worth $11,133,000 after buying an additional 886,539 shares during the period. Two Sigma Investments LP increased its position in shares of Pagaya Technologies by 359.6% during the fourth quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock worth $7,675,000 after purchasing an additional 646,357 shares in the last quarter. State Street Corp increased its position in shares of Pagaya Technologies by 14.6% during the third quarter. State Street Corp now owns 763,823 shares of the company’s stock worth $8,074,000 after purchasing an additional 97,135 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Pagaya Technologies by 310.6% during the fourth quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock worth $5,810,000 after purchasing an additional 473,063 shares in the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

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.