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

Posted by Defense World Staff on Jul 13th, 2023

Pagaya Technologies Ltd. (NASDAQ:PGY – Free Report) – Investment analysts at Wedbush issued their Q1 2024 earnings estimates for shares of Pagaya Technologies in a report issued on Monday, July 10th. Wedbush analyst D. Chiaverini expects 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 ($0.14) per share. Wedbush also issued estimates for Pagaya Technologies’ Q2 2024 earnings at ($0.01) EPS, Q3 2024 earnings at ($0.01) EPS and Q4 2024 earnings at $0.00 EPS.

Pagaya Technologies (NASDAQ:PGY – Get Free Report) last issued its quarterly earnings data on Tuesday, May 16th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Pagaya Technologies had a negative return on equity of 8.02% and a negative net margin of 42.32%. The company had revenue of $186.64 million for the quarter, compared to analysts’ expectations of $178.00 million.

Separately, Benchmark initiated coverage on shares of Pagaya Technologies in a research report on Tuesday, April 25th. They issued a “buy” rating and a $2.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.07.

Pagaya Technologies Price Performance

Pagaya Technologies stock opened at $1.63 on Wednesday. Pagaya Technologies has a 1 year low of $0.57 and a 1 year high of $34.50. The firm has a 50 day moving average price of $1.18 and a 200 day moving average price of $1.09. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.17 and a current ratio of 4.17. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -3.33 and a beta of 7.64.

Hedge Funds Weigh In On Pagaya Technologies

A number of large investors have recently bought and sold shares of PGY. Orin Green Financial LLC bought a new stake in shares of Pagaya Technologies during the 4th quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Pagaya Technologies by 117.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 28,635 shares of the company’s stock valued at $29,000 after purchasing an additional 15,444 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in Pagaya Technologies in the second quarter worth $30,000. Jefferies Financial Group Inc. purchased a new position in shares of Pagaya Technologies during the 4th quarter worth about $31,000. Finally, Bank of America Corp DE grew its stake in shares of Pagaya Technologies by 299.6% during the first quarter. Bank of America Corp DE now owns 33,344 shares of the company’s stock valued at $34,000 after buying an additional 25,000 shares during the last quarter. 54.03% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Company Profile

(Get Free Report)

Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and internationally. It primarily develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. The company's partners include high-growth financial technology companies, incumbent banks and financial institutions, auto finance providers, and residential real estate service providers.