Pagaya Technologies’ (PGY) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Pagaya Technologies (NASDAQ:PGY) in a research note released on Tuesday morning, Benzinga reports. They currently have a $25.00 target price on the stock.

A number of other analysts have also recently weighed in on the stock. Wedbush reissued a neutral rating and issued a $13.00 target price on shares of Pagaya Technologies in a research note on Monday, August 12th. Citigroup started coverage on Pagaya Technologies in a report on Friday, May 24th. They issued a neutral rating and a $14.00 target price for the company. Canaccord Genuity Group restated a buy rating and set a $42.00 target price on shares of Pagaya Technologies in a research report on Monday, August 12th. Benchmark assumed coverage on Pagaya Technologies in a research report on Monday, August 26th. They issued a buy rating and a $21.00 price target on the stock. Finally, Keefe, Bruyette & Woods initiated coverage on Pagaya Technologies in a report on Monday, June 17th. They set an outperform rating and a $23.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Pagaya Technologies presently has a consensus rating of Moderate Buy and an average target price of $24.00.

Pagaya Technologies Price Performance

Shares of PGY stock opened at $12.28 on Tuesday. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $27.24. The company has a market capitalization of $870.65 million, a P/E ratio of -8.71 and a beta of 6.41. The stock has a 50 day moving average of $13.59 and a two-hundred day moving average of $12.65. 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 (NASDAQ:PGY) last issued its earnings results on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The firm had revenue of $250.34 million during the quarter, compared to the consensus estimate of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. As a group, equities analysts expect that Pagaya Technologies will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other Pagaya Technologies news, President Sanjiv Das sold 10,794 shares of the 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 sale, the president now owns 66,232 shares of the company’s stock, valued at approximately $965,000.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, President Sanjiv Das sold 10,794 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $14.57, for a total value of $157,268.58. Following the completion of the transaction, the president now owns 66,232 shares in the company, valued at approximately $965,000.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Avital Pardo sold 11,601 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $15.83, for a total value of $183,643.83. Following the completion of the transaction, the chief technology officer now owns 433,125 shares in the company, valued at $6,856,368.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,239 shares of company stock valued at $1,190,278. 19.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Pagaya Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in Pagaya Technologies during the 4th quarter worth $1,079,000. Swiss National Bank acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth $658,000. Allspring Global Investments Holdings LLC bought a new stake in Pagaya Technologies in the first quarter valued at about $12,686,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Pagaya Technologies by 14.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock valued at $6,818,000 after buying an additional 83,913 shares during the period. Finally, ARK Investment Management LLC boosted its holdings in Pagaya Technologies by 36.2% during the second quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock worth $2,830,000 after buying an additional 58,939 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.