Pagaya Technologies Ltd. to Post Q1 2023 Earnings of ($0.03) Per Share, Wedbush Forecasts (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGYGet Rating) – Stock analysts at Wedbush upped their Q1 2023 earnings per share estimates for Pagaya Technologies in a research note issued on Wednesday, January 18th. Wedbush analyst D. Chiaverini now expects that the company will post earnings of ($0.03) per share for the quarter, up from their prior estimate of ($0.05). Wedbush currently has a “Neutral” rating and a $2.00 target price on the stock. The consensus estimate for Pagaya Technologies’ current full-year earnings is ($0.30) per share. Wedbush also issued estimates for Pagaya Technologies’ Q2 2023 earnings at ($0.03) EPS, Q3 2023 earnings at ($0.02) EPS, Q4 2023 earnings at ($0.01) EPS, FY2023 earnings at ($0.10) EPS and FY2024 earnings at $0.03 EPS.

A number of other research firms also recently commented on PGY. Canaccord Genuity Group started coverage on Pagaya Technologies in a research note on Wednesday, December 14th. They issued a “hold” rating and a $1.50 price target for the company. UBS Group started coverage on Pagaya Technologies in a research note on Friday, January 13th. They issued a “neutral” rating and a $1.25 price target for the company. Finally, Canaccord Genuity Group started coverage on Pagaya Technologies in a research note on Wednesday, December 14th. They issued a “hold” rating and a $1.50 price target for the company. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.65.

Pagaya Technologies Price Performance

NASDAQ:PGY opened at $0.98 on Monday. Pagaya Technologies has a one year low of $0.57 and a one year high of $34.50. The stock has a 50-day simple moving average of $0.97 and a 200 day simple moving average of $5.84. The company has a current ratio of 4.93, a quick ratio of 4.94 and a debt-to-equity ratio of 0.11.

Pagaya Technologies (NASDAQ:PGYGet Rating) last announced its earnings results on Thursday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $185.61 million for the quarter, compared to analysts’ expectations of $178.00 million.

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently made changes to their positions in PGY. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Pagaya Technologies during the second quarter valued at approximately $160,964,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Pagaya Technologies during the second quarter valued at approximately $6,270,000. Millennium Management LLC bought a new stake in shares of Pagaya Technologies during the second quarter valued at approximately $301,000. Whale Rock Capital Management LLC bought a new stake in shares of Pagaya Technologies during the second quarter valued at approximately $48,660,000. Finally, Jane Street Group LLC bought a new stake in Pagaya Technologies during the second quarter worth approximately $103,000. Institutional investors own 22.60% of the company’s stock.

Pagaya Technologies Company Profile

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Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and the Cayman Islands. It develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. Its partners include high-growth financial technology companies, incumbent financial institutions, auto finance providers, and brokers.

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