Benchmark Reiterates “Buy” Rating for Pagaya Technologies (NASDAQ:PGY)

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “buy” rating reaffirmed by Benchmark in a research report issued on Monday,Benzinga reports. They presently have a $25.00 price target on the stock. Benchmark’s price objective would indicate a potential upside of 136.74% from the company’s current price.

Several other brokerages also recently issued reports on PGY. Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. UBS Group assumed coverage on Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price objective on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research report on Thursday, February 13th. Finally, JMP Securities upped their target price on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.61.

Pagaya Technologies Trading Up 9.2 %

Shares of Pagaya Technologies stock opened at $10.56 on Monday. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $19.20. The company has a market capitalization of $777.81 million, a P/E ratio of -1.92 and a beta of 5.98. The company’s fifty day moving average is $11.06 and its two-hundred day moving average is $11.02. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. The company had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. During the same period in the prior year, the company earned $0.24 earnings per share. Analysts forecast that Pagaya Technologies will post 0.88 earnings per share for the current year.

Insider Activity

In related news, President Sanjiv Das sold 7,282 shares of Pagaya Technologies stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $64,445.70. Following the completion of the sale, the president now owns 91,163 shares in the company, valued at approximately $806,792.55. The trade was a 7.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tami Rosen sold 9,846 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $12.18, for a total transaction of $119,924.28. Following the completion of the sale, the insider now directly owns 73,550 shares of the company’s stock, valued at $895,839. The trade was a 11.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,692 shares of company stock worth $1,205,379. 49.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pagaya Technologies

Large investors have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC acquired a new position in Pagaya Technologies during the 4th quarter valued at about $28,070,000. Point72 Asset Management L.P. boosted its position in shares of Pagaya Technologies by 284.3% during the fourth quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company’s stock worth $11,133,000 after buying an additional 886,539 shares during the period. Two Sigma Investments LP raised its stake in Pagaya Technologies by 359.6% during the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company’s stock valued at $7,675,000 after acquiring an additional 646,357 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Pagaya Technologies by 310.6% during the 4th quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company’s stock worth $5,810,000 after acquiring an additional 473,063 shares during the period. Finally, Kennedy Capital Management LLC acquired a new stake in Pagaya Technologies in the fourth quarter worth about $2,701,000. 57.14% of the stock is owned by institutional investors and hedge funds.

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.