FY2024 EPS Estimates for Pagaya Technologies Ltd. (NASDAQ:PGY) Cut by Analyst

Pagaya Technologies Ltd. (NASDAQ:PGY) – Stock analysts at B. Riley cut their FY2024 earnings per share estimates for Pagaya Technologies in a report released on Monday, September 30th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings of ($0.08) per share for the year, down from their prior estimate of ($0.05). B. Riley currently has a “Buy” rating and a $36.00 target price on the stock. The consensus estimate for Pagaya Technologies’ current full-year earnings is ($0.11) per share. B. Riley also issued estimates for Pagaya Technologies’ FY2025 earnings at $1.51 EPS.

PGY has been the subject of several other reports. Canaccord Genuity Group lowered their target price on Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating for the company in a research note on Monday. Oppenheimer assumed coverage on Pagaya Technologies in a research note on Tuesday. They set an “outperform” rating and a $12.00 target price for the company. Benchmark assumed coverage on Pagaya Technologies in a report on Monday, August 26th. They set a “buy” rating and a $21.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $13.00 price target on shares of Pagaya Technologies in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Pagaya Technologies has an average rating of “Moderate Buy” and an average price target of $22.89.

Pagaya Technologies Trading Up 2.0 %

PGY opened at $10.19 on Thursday. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $20.50. The stock has a market capitalization of $722.47 million, a price-to-earnings ratio of -7.23 and a beta of 6.36. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 1.50. The business has a fifty day moving average price of $12.70 and a 200 day moving average price of $12.03.

Pagaya Technologies (NASDAQ:PGY) last released its earnings results on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.11). Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. The company had revenue of $250.34 million for the quarter, compared to analyst estimates of $239.16 million.

Insider Activity

In other news, insider Tami Rosen sold 8,025 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total value of $117,967.50. Following the completion of the sale, the insider now directly owns 55,751 shares of the company’s stock, valued at approximately $819,539.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Sanjiv Das sold 10,794 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $14.57, for a total value of $157,268.58. Following the transaction, the president now owns 66,232 shares in the company, valued at approximately $965,000.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tami Rosen sold 8,025 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $14.70, for a total value of $117,967.50. Following the completion of the transaction, the insider now owns 55,751 shares in the company, valued at approximately $819,539.70. The disclosure for this sale can be found here. In the last three months, insiders sold 66,453 shares of company stock valued at $973,545. Insiders own 19.70% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new position in Pagaya Technologies during the 2nd quarter worth approximately $74,000. SG Americas Securities LLC acquired a new position in Pagaya Technologies during the 2nd quarter worth approximately $101,000. Cornerstone Investment Partners LLC acquired a new position in Pagaya Technologies during the 1st quarter worth approximately $158,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Pagaya Technologies during the 2nd quarter worth approximately $166,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Pagaya Technologies during the 2nd quarter worth approximately $187,000. Institutional investors and hedge funds 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.