JMP Securities Reaffirms “Market Outperform” Rating for Pagaya Technologies (NASDAQ:PGY)

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research note issued to investors on Friday, Benzinga reports. They presently have a $25.00 target price on the stock. JMP Securities’ price objective indicates a potential upside of 106.27% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 target price on shares of Pagaya Technologies in a report on Thursday, May 9th. Benchmark restated a “buy” rating and issued a $22.00 target price on shares of Pagaya Technologies in a report on Friday, May 10th. Wedbush cut their target price on shares of Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating on the stock in a report on Friday, March 15th. Finally, Citigroup initiated coverage on shares of Pagaya Technologies in a report on Friday, May 24th. They issued a “neutral” rating and a $14.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.50.

Pagaya Technologies Price Performance

Shares of PGY stock traded down $0.28 during trading on Friday, hitting $12.12. The company had a trading volume of 336,281 shares, compared to its average volume of 1,154,673. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average is $10.88 and its two-hundred day moving average is $13.56. The stock has a market capitalization of $859.31 million, a price-to-earnings ratio of -8.74 and a beta of 6.49. Pagaya Technologies has a 52 week low of $8.56 and a 52 week high of $33.96.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). Pagaya Technologies had a negative net margin of 10.53% and a negative return on equity of 4.23%. The business had revenue of $237.00 million for the quarter, compared to the consensus estimate of $229.45 million. During the same quarter in the previous year, the business earned ($0.48) earnings per share. As a group, analysts predict that Pagaya Technologies will post -0.17 EPS for the current fiscal year.

Insider Activity

In related news, CRO Yahav Yulzari purchased 60,000 shares of Pagaya Technologies stock in a transaction dated Wednesday, April 3rd. The stock was purchased at an average cost of $10.17 per share, for a total transaction of $610,200.00. Following the completion of the acquisition, the executive now directly owns 299,699 shares of the company’s stock, valued at $3,047,938.83. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Pagaya Technologies news, insider Tami Rosen acquired 10,000 shares of Pagaya Technologies stock in a transaction that occurred on Friday, April 5th. The stock was bought at an average cost of $10.47 per share, for a total transaction of $104,700.00. Following the acquisition, the insider now owns 28,818 shares of the company’s stock, valued at $301,724.46. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Yahav Yulzari acquired 60,000 shares of Pagaya Technologies stock in a transaction that occurred on Wednesday, April 3rd. The stock was acquired at an average price of $10.17 per share, with a total value of $610,200.00. Following the completion of the acquisition, the executive now directly owns 299,699 shares in the company, valued at approximately $3,047,938.83. The disclosure for this purchase can be found here. Insiders purchased 194,807 shares of company stock worth $2,012,373 over the last three months. 19.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

Several large investors have recently bought and sold shares of PGY. MBE Wealth Management LLC bought a new stake in shares of Pagaya Technologies during the 4th quarter valued at about $31,000. Pathstone Family Office LLC bought a new stake in shares of Pagaya Technologies during the 3rd quarter valued at about $32,000. Acadian Asset Management LLC bought a new stake in shares of Pagaya Technologies during the 3rd quarter valued at about $38,000. Cornerstone Investment Partners LLC bought a new stake in shares of Pagaya Technologies during the 1st quarter valued at about $158,000. Finally, Castle Hook Partners LP bought a new stake in shares of Pagaya Technologies during the 1st quarter valued at about $188,000. 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.