Pagaya Technologies Ltd. (NASDAQ:PGY) Expected to Post Q1 2024 Earnings of ($0.01) Per Share

Posted by Defense World Staff on Apr 12th, 2023

Pagaya Technologies Ltd. (NASDAQ:PGY – Get Rating) – Stock analysts at Wedbush issued their Q1 2024 earnings per share (EPS) estimates for Pagaya Technologies in a research note issued to investors on Monday, April 10th. Wedbush analyst D. Chiaverini anticipates that the company will post earnings per share of ($0.01) for the quarter. The consensus estimate for Pagaya Technologies’ current full-year earnings is ($0.08) per share. Wedbush also issued estimates for Pagaya Technologies’ Q2 2024 earnings at ($0.01) EPS, Q3 2024 earnings at $0.00 EPS and Q4 2024 earnings at $0.00 EPS.

A number of other equities research analysts have also recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of Pagaya Technologies in a research note on Wednesday, December 14th. They issued a “hold” rating and a $1.50 price objective on the stock. UBS Group increased their target price on Pagaya Technologies from $1.25 to $1.35 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Finally, Canaccord Genuity Group upgraded shares of Pagaya Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $1.50 to $3.00 in a research report on Thursday, February 16th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.97.

Pagaya Technologies Price Performance

Shares of PGY stock opened at $0.99 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.28 and a quick ratio of 3.28. Pagaya Technologies has a 12-month low of $0.57 and a 12-month high of $34.50. The stock has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.14.

Pagaya Technologies (NASDAQ:PGY – Get Rating) last announced its earnings results on Wednesday, February 15th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $192.89 million for the quarter, compared to analysts’ expectations of $166.00 million.

Institutional Investors Weigh In On Pagaya Technologies

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in Pagaya Technologies by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 393,923 shares of the company’s stock valued at $488,000 after buying an additional 17,818 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Pagaya Technologies during the 3rd quarter worth approximately $33,000. Virtu Financial LLC bought a new position in Pagaya Technologies during the third quarter worth $37,000. Orin Green Financial LLC bought a new stake in Pagaya Technologies in the 4th quarter valued at about $26,000. Finally, Jane Street Group LLC acquired a new stake in shares of Pagaya Technologies during the 2nd quarter worth $103,000. 22.60% of the stock is currently owned by institutional investors.

Pagaya Technologies Company Profile

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Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and the Cayman Islands. It develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. Its partners include high-growth financial technology companies, incumbent financial institutions, auto finance providers, and brokers.