Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $4.06 Consensus Price Target from Brokerages

Posted by Defense World Staff on Aug 6th, 2023

Pagaya Technologies Ltd. (NASDAQ:PGY – Get Free Report) has received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $4.06.

PGY has been the subject of a number of recent analyst reports. B. Riley assumed coverage on Pagaya Technologies in a research report on Wednesday, July 26th. They set a “buy” rating and a $4.00 price objective for the company. Benchmark assumed coverage on Pagaya Technologies in a research report on Tuesday, April 25th. They issued a “buy” rating and a $2.00 target price for the company.

Pagaya Technologies Stock Down 4.8 %

Shares of NASDAQ:PGY opened at $2.37 on Thursday. The business has a 50-day moving average price of $1.61 and a 200 day moving average price of $1.22. The company has a current ratio of 4.17, a quick ratio of 4.17 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -4.84 and a beta of 7.83. Pagaya Technologies has a 12-month low of $0.57 and a 12-month high of $26.05.

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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $186.64 million for the quarter, compared to analyst estimates of $178.00 million. Pagaya Technologies had a negative return on equity of 8.02% and a negative net margin of 42.32%. Sell-side analysts expect that Pagaya Technologies will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orin Green Financial LLC purchased a new position in shares of Pagaya Technologies in the 4th quarter valued at about $26,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Pagaya Technologies by 117.1% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 28,635 shares of the company’s stock valued at $29,000 after buying an additional 15,444 shares during the period. Sanders Morris Harris LLC purchased a new stake in Pagaya Technologies during the second quarter worth approximately $30,000. Jefferies Financial Group Inc. purchased a new stake in Pagaya Technologies during the fourth quarter worth approximately $31,000. Finally, Bank of America Corp DE lifted its stake in Pagaya Technologies by 299.6% during the first quarter. Bank of America Corp DE now owns 33,344 shares of the company’s stock worth $34,000 after purchasing an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 54.03% of the company’s stock.

About Pagaya Technologies

(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.