Pagaya Technologies’ (PGY) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a research report report published on Monday,Benzinga reports. The firm currently has a $25.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. UBS Group initiated coverage on Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a report on Thursday, February 13th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $13.00 to $14.50 in a report on Friday, February 7th. Finally, JMP Securities increased their target price on Pagaya Technologies from $25.00 to $26.00 and gave the stock 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Pagaya Technologies currently has an average rating of “Moderate Buy” and an average target price of $20.61.

Pagaya Technologies Trading Down 1.4 %

Pagaya Technologies stock opened at $11.19 on Monday. The business has a 50 day moving average price of $11.15 and a two-hundred day moving average price of $10.97. 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 stock has a market cap of $824.21 million, a price-to-earnings ratio of -2.03 and a beta of 5.98. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $19.20.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.32). The firm had revenue of $279.39 million during the quarter, compared to analyst estimates 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 period last year, the company earned $0.24 EPS. As a group, equities analysts forecast that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Buying and Selling

In other Pagaya Technologies news, President Sanjiv Das sold 6,343 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 approximately $753,014.16. This trade represents a 7.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tami Rosen sold 21,547 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 101,692 shares of company stock worth $1,205,379 in the last three months. Insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Pagaya Technologies by 502.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock valued at $1,610,000 after buying an additional 127,012 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Pagaya Technologies by 4,374.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock worth $3,296,000 after purchasing an additional 304,890 shares during the last quarter. Centiva Capital LP bought a new position in shares of Pagaya Technologies in the 3rd quarter worth $617,000. IFP Advisors Inc boosted its position in shares of Pagaya Technologies by 80.7% in the 4th quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock worth $123,000 after purchasing an additional 5,925 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Pagaya Technologies by 17.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock worth $1,184,000 after purchasing an additional 16,533 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.

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.