Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have received a consensus rating of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $33.1111.

Several research firms have recently weighed in on PGY. Weiss Ratings raised Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Canaccord Genuity Group reduced their price objective on Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Freedom Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research note on Tuesday, February 3rd. Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Benchmark reduced their price objective on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th.

Insider Transactions at Pagaya Technologies

In other news, CFO Evangelos Perros sold 13,004 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $11.34, for a total value of $147,465.36. Following the completion of the sale, the chief financial officer directly owned 122,174 shares in the company, valued at $1,385,453.16. This represents a 9.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tami Rosen sold 5,905 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $10.99, for a total value of $64,895.95. Following the completion of the sale, the insider owned 47,264 shares of the company’s stock, valued at $519,431.36. This trade represents a 11.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 37,036 shares of company stock worth $411,577 in the last three months. Corporate insiders own 47.59% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PGY. Versant Capital Management Inc purchased a new stake in shares of Pagaya Technologies in the 3rd quarter worth $25,000. Root Financial Partners LLC purchased a new stake in shares of Pagaya Technologies in the 4th quarter worth $27,000. Aster Capital Management DIFC Ltd increased its stake in Pagaya Technologies by 351.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after buying an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC purchased a new stake in Pagaya Technologies in the 4th quarter worth $30,000. Finally, Quarry LP increased its stake in Pagaya Technologies by 330.8% in the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock worth $35,000 after buying an additional 1,277 shares in the last quarter. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Pagaya Technologies Price Performance

NASDAQ PGY opened at $12.37 on Friday. The business’s fifty day moving average price is $12.73 and its 200-day moving average price is $21.07. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 13.90 and a beta of 5.74. The company has a debt-to-equity ratio of 1.22, a current ratio of 10.55 and a quick ratio of 10.55. Pagaya Technologies has a 1-year low of $8.61 and a 1-year high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Monday, February 9th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05. The firm had revenue of $334.81 million for the quarter, compared to analysts’ expectations of $348.75 million. Pagaya Technologies had a return on equity of 44.24% and a net margin of 6.25%.The company’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. On average, equities analysts predict that Pagaya Technologies will post 0.88 earnings per share for the current year.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.