Pagaya Technologies’ (PGY) “Buy” Rating Reaffirmed at B. Riley

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “buy” rating reaffirmed by research analysts at B. Riley in a research note issued on Monday,Benzinga reports. They presently have a $36.00 target price on the stock. B. Riley’s price objective suggests a potential upside of 213.59% from the company’s previous close.

PGY has been the topic of several other research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Thursday, February 13th. Citigroup upgraded shares of 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. UBS Group began coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 target price on the stock. JMP Securities lifted their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Monday. Two 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.61.

Pagaya Technologies Stock Up 8.7 %

Shares of Pagaya Technologies stock traded up $0.92 during midday trading on Monday, reaching $11.48. 2,393,382 shares of the company’s stock traded hands, compared to its average volume of 2,754,852. The company has a market cap of $845.57 million, a price-to-earnings ratio of -2.09 and a beta of 5.98. The company’s 50 day simple moving average is $11.06 and its 200 day simple moving average is $11.02. 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 has a 52 week low of $8.20 and a 52 week high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the business posted $0.24 EPS. Equities analysts expect that Pagaya Technologies will post 0.88 earnings per share for the current fiscal year.

Insider Activity

In other Pagaya Technologies news, President Sanjiv Das sold 6,343 shares of the business’s stock in a transaction dated 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 in the company, valued at $753,014.16. The trade was a 7.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tami Rosen sold 21,547 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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 approximately $733,293.50. This trade represents a 22.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,692 shares of company stock worth $1,205,379. Corporate insiders own 49.56% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in Pagaya Technologies by 1.8% in the fourth quarter. Invesco Ltd. now owns 48,030 shares of the company’s stock valued at $446,000 after buying an additional 864 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Pagaya Technologies by 10.9% in the fourth quarter. Arizona State Retirement System now owns 11,154 shares of the company’s stock worth $104,000 after acquiring an additional 1,092 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Pagaya Technologies by 15.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company’s stock worth $101,000 after acquiring an additional 1,532 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Pagaya Technologies by 4.6% in the third quarter. Tidal Investments LLC now owns 41,322 shares of the company’s stock worth $437,000 after acquiring an additional 1,826 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Pagaya Technologies by 13.2% in the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock worth $176,000 after acquiring an additional 1,937 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

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.