B. Riley Reaffirms “Buy” Rating for Pagaya Technologies (NASDAQ:PGY)

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “buy” rating reaffirmed by equities research analysts at B. Riley in a report released on Monday,Benzinga reports. They presently have a $36.00 target price on the stock. B. Riley’s target price would suggest a potential upside of 217.18% from the company’s current price.

PGY has been the subject of several other research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. Benchmark reaffirmed a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Monday. UBS Group initiated coverage on Pagaya Technologies in a research note on Friday, December 20th. They set a “neutral” rating and a $11.00 price target for the company. Finally, JMP Securities lifted their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies has an average rating of “Moderate Buy” and an average price target of $20.61.

Pagaya Technologies Price Performance

Pagaya Technologies stock opened at $11.35 on Monday. Pagaya Technologies has a 52 week low of $8.20 and a 52 week high of $19.20. The business has a 50-day simple moving average of $11.11 and a 200 day simple moving average of $10.97. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The stock has a market cap of $836.00 million, a price-to-earnings ratio of -2.06 and a beta of 5.98.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results 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 positive return on equity of 0.82% and a negative net margin of 39.20%. The business had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, research analysts forecast that Pagaya Technologies will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 35,369 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the transaction, the insider now owns 38,181 shares of the company’s stock, valued at $572,715. This represents a 48.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Sanjiv Das sold 6,343 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $63,239.71. Following the transaction, the president now directly owns 75,528 shares of the company’s stock, valued at $753,014.16. The trade was a 7.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,692 shares of company stock valued at $1,205,379 in the last 90 days. Insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its holdings in shares of Pagaya Technologies by 5.4% during the 4th quarter. California State Teachers Retirement System now owns 35,771 shares of the company’s stock worth $332,000 after acquiring an additional 1,848 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $105,000. Jefferies Financial Group Inc. purchased a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $93,000. PharVision Advisers LLC purchased a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $109,000. Finally, Voloridge Investment Management LLC grew its holdings in shares of Pagaya Technologies by 200.9% during the 4th quarter. Voloridge Investment Management LLC now owns 149,978 shares of the company’s stock worth $1,393,000 after acquiring an additional 100,127 shares during the period. Institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

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.