Pagaya Technologies’ (PGY) Buy Rating Reiterated at B. Riley

B. Riley reissued their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a report released on Monday,Benzinga reports. The firm currently has a $36.00 price objective on the stock.

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

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $11.19 on Monday. The company has a market capitalization of $824.21 million, a price-to-earnings ratio of -2.03 and a beta of 5.98. Pagaya Technologies has a twelve month low of $8.20 and a twelve month high of $19.20. The stock has a fifty day simple moving average of $11.15 and a 200 day simple moving average 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.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). The company 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 quarter in the previous year, the company earned $0.24 earnings per share. Sell-side analysts expect that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Activity

In related news, CFO Evangelos Perros sold 21,305 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $212,410.85. Following the transaction, the chief financial officer now owns 54,029 shares of the company’s stock, valued at approximately $538,669.13. This trade represents a 28.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tami Rosen sold 21,547 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $214,823.59. Following the completion of the transaction, the insider now directly owns 73,550 shares in the company, valued at approximately $733,293.50. The trade was a 22.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,692 shares of company stock worth $1,205,379 in the last three months. Company insiders own 49.56% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Large investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in Pagaya Technologies in the 4th quarter valued at about $30,000. Pilgrim Partners Asia Pte Ltd bought a new position in Pagaya Technologies in the 4th quarter valued at about $43,000. Nisa Investment Advisors LLC bought a new position in Pagaya Technologies in the 4th quarter valued at about $57,000. KLP Kapitalforvaltning AS bought a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $67,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Pagaya Technologies by 48.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company’s stock worth $103,000 after buying an additional 3,181 shares in the last quarter. Institutional investors own 57.14% of the company’s stock.

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.