Pagaya Technologies (NASDAQ:PGY) Rating Reiterated by Benchmark

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a research note issued to investors on Friday, Benzinga reports. They currently have a $22.00 target price on the stock. Benchmark’s target price would indicate a potential upside of 77.42% from the stock’s previous close.

Several other brokerages also recently weighed in on PGY. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 price target on shares of Pagaya Technologies in a report on Thursday. JMP Securities decreased their price objective on shares of Pagaya Technologies from $30.00 to $25.00 and set a “market outperform” rating for the company in a research report on Monday, April 8th. Finally, Wedbush cut their target price on shares of Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating on the stock in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.75.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY traded down $0.20 during trading on Friday, hitting $12.40. 1,125,067 shares of the stock were exchanged, compared to its average volume of 1,226,683. The company has a fifty day moving average price of $11.12 and a two-hundred day moving average price of $14.00. The company has a market cap of $65.10 million, a PE ratio of -5.79 and a beta of 6.55. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 0.49. Pagaya Technologies has a 12-month low of $8.56 and a 12-month high of $33.96.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.19). Pagaya Technologies had a negative return on equity of 7.91% and a negative net margin of 16.22%. The firm had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $229.45 million. During the same period last year, the firm earned ($0.48) EPS. On average, analysts forecast that Pagaya Technologies will post -0.17 EPS for the current year.

Insider Activity

In other Pagaya Technologies news, insider Tami Rosen acquired 10,000 shares of Pagaya Technologies stock in a transaction that occurred on Friday, April 5th. The stock was acquired at an average price of $10.47 per share, with a total value of $104,700.00. Following the purchase, the insider now owns 28,818 shares in the company, valued at $301,724.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Tami Rosen acquired 10,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were bought at an average price of $10.47 per share, for a total transaction of $104,700.00. Following the acquisition, the insider now owns 28,818 shares in the company, valued at approximately $301,724.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Sanjiv Das bought 22,727 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was acquired at an average cost of $10.57 per share, for a total transaction of $240,224.39. Following the purchase, the president now owns 22,727 shares of the company’s stock, valued at $240,224.39. The disclosure for this purchase can be found here. Insiders have purchased a total of 194,807 shares of company stock worth $2,012,373 in the last ninety days.

Institutional Investors Weigh In On Pagaya Technologies

Several large investors have recently made changes to their positions in PGY. MBE Wealth Management LLC acquired a new stake in Pagaya Technologies in the 4th quarter valued at about $31,000. Pathstone Family Office LLC acquired a new stake in shares of Pagaya Technologies during the 3rd quarter worth approximately $32,000. Acadian Asset Management LLC acquired a new stake in Pagaya Technologies in the third quarter valued at approximately $38,000. Fermata Advisors LLC bought a new position in shares of Pagaya Technologies during the third quarter valued at $38,000. Finally, Deuterium Capital Management LLC bought a new position in Pagaya Technologies during the third quarter worth $40,000. Institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

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.