Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $3.64 Consensus Price Target from Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY – Get Rating) has earned an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $3.64.

A number of research firms have recently weighed in on PGY. Canaccord Genuity Group upgraded Pagaya Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $1.50 to $3.00 in a research report on Thursday, February 16th. UBS Group upped their price objective on shares of Pagaya Technologies from $1.25 to $1.35 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Finally, Benchmark started coverage on shares of Pagaya Technologies in a report on Tuesday, April 25th. They issued a “buy” rating and a $2.00 target price on the stock.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $1.12 on Friday. The firm has a 50-day moving average price of $0.94 and a two-hundred day moving average price of $1.02. Pagaya Technologies has a 12-month low of $0.57 and a 12-month high of $34.50. The company has a market capitalization of $789.98 million, a P/E ratio of -2.23 and a beta of 7.88. The company has a quick ratio of 3.28, a current ratio of 4.17 and a debt-to-equity ratio of 0.30.

Pagaya Technologies (NASDAQ:PGY – Get Rating) last released its quarterly earnings results on Tuesday, May 16th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $186.64 million during the quarter, compared to analyst estimates of $178.00 million. Pagaya Technologies had a negative net margin of 42.32% and a negative return on equity of 8.02%. Analysts anticipate that Pagaya Technologies will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tiger Global Management LLC bought a new position in shares of Pagaya Technologies in the 3rd quarter valued at $134,636,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Pagaya Technologies by 4.8% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 42,002,141 shares of the company’s stock valued at $52,083,000 after purchasing an additional 1,911,172 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Pagaya Technologies during the first quarter valued at about $931,000. ETF Managers Group LLC bought a new stake in shares of Pagaya Technologies during the first quarter worth about $676,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Pagaya Technologies by 299,769.2% in the fourth quarter. JPMorgan Chase & Co. now owns 584,745 shares of the company’s stock valued at $725,000 after buying an additional 584,550 shares during the period. Institutional investors own 22.60% of the company’s stock.

About Pagaya Technologies

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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.