Brokerages Set Pagaya Technologies Ltd. (NASDAQ:PGY) Price Target at $20.61

Pagaya Technologies Ltd. (NASDAQ:PGY) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $20.61.

PGY has been the subject of several recent research reports. B. Riley reissued a “buy” rating and set a $36.00 target price on shares of Pagaya Technologies in a research note on Monday, March 17th. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $14.50 in a report on Friday, February 7th. JMP Securities upped their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 13th.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, insider Yahav Yulzari sold 238,004 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.16, for a total value of $3,608,140.64. Following the transaction, the insider now owns 4,346,141 shares in the company, valued at approximately $65,887,497.56. This represents a 5.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Avital Pardo sold 237,748 shares of Pagaya Technologies stock in a transaction on Monday, May 12th. The shares were sold at an average price of $15.16, for a total transaction of $3,604,259.68. Following the sale, the chief technology officer now directly owns 2,401,528 shares of the company’s stock, valued at $36,407,164.48. This trade represents a 9.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 488,541 shares of company stock valued at $7,331,977. Company insiders own 47.59% of the company’s stock.

Institutional Trading of Pagaya Technologies

Institutional investors have recently bought and sold shares of the company. Frontier Capital Management Co. LLC acquired a new stake in shares of Pagaya Technologies during the 4th quarter valued at about $28,070,000. Millennium Management LLC raised its position in Pagaya Technologies by 320.1% during the first quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after acquiring an additional 961,944 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Pagaya Technologies by 284.3% in the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock valued at $11,133,000 after acquiring an additional 886,539 shares during the last quarter. Two Sigma Investments LP lifted its stake in Pagaya Technologies by 359.6% in the fourth quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock valued at $7,675,000 after acquiring an additional 646,357 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Pagaya Technologies in the first quarter worth approximately $6,465,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Trading Up 1.9%

Shares of PGY stock opened at $14.30 on Wednesday. The stock has a 50-day simple moving average of $11.10 and a 200 day simple moving average of $10.82. The stock has a market capitalization of $1.08 billion, a P/E ratio of -2.60 and a beta of 5.88. Pagaya Technologies has a fifty-two week low of $8.20 and a fifty-two week high of $19.20. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data 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 business had revenue of $279.39 million for the quarter, compared to the consensus estimate of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same quarter last year, the business posted $0.24 EPS. On average, sell-side analysts expect that Pagaya Technologies will post 0.88 earnings per share for the current fiscal year.

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.