Benchmark Reaffirms Buy Rating for Pagaya Technologies (NASDAQ:PGY)

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research report issued on Monday,Benzinga reports. They currently have a $25.00 price target on the stock. Benchmark’s target price would suggest a potential upside of 136.74% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. JMP Securities increased their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 13th. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.00 to $14.50 in a report on Friday, February 7th. Finally, UBS Group began coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They set a “neutral” rating and a $11.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.61.

Pagaya Technologies Price Performance

Shares of NASDAQ PGY opened at $10.56 on Monday. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $19.20. The stock has a market capitalization of $777.81 million, a price-to-earnings ratio of -1.92 and a beta of 5.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50 day simple moving average is $11.06 and its 200-day simple moving average is $11.02.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The business had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. During the same quarter last year, the business earned $0.24 EPS. Analysts expect that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, CFO Evangelos Perros sold 21,305 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $212,410.85. Following the completion of the transaction, the chief financial officer now owns 54,029 shares in the company, valued at $538,669.13. The trade was a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Sanjiv Das sold 6,343 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $63,239.71. Following the completion of the transaction, the president now owns 75,528 shares of the company’s stock, valued at approximately $753,014.16. This trade represents a 7.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,692 shares of company stock valued at $1,205,379. 49.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pagaya Technologies

A number of large investors have recently modified their holdings of PGY. R Squared Ltd acquired a new position in shares of Pagaya Technologies during the fourth quarter worth $30,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Pagaya Technologies during the 4th quarter worth about $43,000. Nisa Investment Advisors LLC purchased a new position in shares of Pagaya Technologies in the 4th quarter valued at about $57,000. KLP Kapitalforvaltning AS purchased a new position in shares of Pagaya Technologies in the 4th quarter valued at about $67,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $93,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

About Pagaya Technologies

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.