B. Riley Comments on Pagaya Technologies Ltd.’s FY2024 Earnings (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGY) – Research analysts at B. Riley cut their FY2024 EPS estimates for shares of Pagaya Technologies in a research report issued to clients and investors on Monday, September 30th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings per share of ($0.08) for the year, down from their prior forecast of ($0.05). B. Riley has a “Buy” rating and a $36.00 price target on the stock. The consensus estimate for Pagaya Technologies’ current full-year earnings is ($0.11) per share. B. Riley also issued estimates for Pagaya Technologies’ FY2025 earnings at $1.51 EPS.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.11). The business had revenue of $250.34 million for the quarter, compared to analyst estimates of $239.16 million. Pagaya Technologies had a negative net margin of 14.58% and a negative return on equity of 3.10%.

PGY has been the topic of a number of other reports. JMP Securities restated a “market outperform” rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods started coverage on Pagaya Technologies in a research report on Monday, June 17th. They issued an “outperform” rating and a $23.00 price objective for the company. Wedbush reiterated a “neutral” rating and set a $13.00 target price on shares of Pagaya Technologies in a research report on Monday, August 12th. Benchmark began coverage on shares of Pagaya Technologies in a research note on Monday, August 26th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, Oppenheimer started coverage on shares of Pagaya Technologies in a research report on Tuesday. They set an “outperform” rating and a $12.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Pagaya Technologies presently has an average rating of “Moderate Buy” and an average price target of $22.89.

Pagaya Technologies Stock Up 2.2 %

Shares of PGY stock opened at $10.41 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.72. Pagaya Technologies has a twelve month low of $8.56 and a twelve month high of $20.50. The stock has a 50 day moving average of $12.61 and a 200 day moving average of $12.04. The stock has a market cap of $738.07 million, a P/E ratio of -7.38 and a beta of 6.36.

Insiders Place Their Bets

In related news, President Sanjiv Das sold 10,794 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.57, for a total transaction of $157,268.58. Following the completion of the sale, the president now directly owns 66,232 shares in the company, valued at approximately $965,000.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Tami Rosen sold 8,025 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total transaction of $117,967.50. Following the completion of the transaction, the insider now directly owns 55,751 shares in the company, valued at approximately $819,539.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Sanjiv Das sold 10,794 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $14.57, for a total value of $157,268.58. Following the sale, the president now directly owns 66,232 shares of the company’s stock, valued at $965,000.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,453 shares of company stock valued at $973,545. Insiders own 19.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in shares of Pagaya Technologies in the 2nd quarter valued at $74,000. SG Americas Securities LLC purchased a new stake in Pagaya Technologies during the second quarter worth about $101,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Pagaya Technologies during the second quarter worth about $166,000. The Manufacturers Life Insurance Company purchased a new stake in Pagaya Technologies during the 2nd quarter worth approximately $187,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in Pagaya Technologies during the 1st quarter worth approximately $158,000. Institutional investors and hedge funds 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.