Pagaya Technologies (NASDAQ:PGY) PT Lowered to $36.00 at B. Riley

Pagaya Technologies (NASDAQ:PGY) had its target price trimmed by B. Riley from $48.00 to $36.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock. B. Riley also issued estimates for Pagaya Technologies’ Q4 2024 earnings at $0.10 EPS.

PGY has been the subject of several other research reports. Keefe, Bruyette & Woods began coverage on Pagaya Technologies in a research report on Monday, June 17th. They set an outperform rating and a $23.00 target price for the company. JMP Securities restated a market outperform rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Canaccord Genuity Group restated a buy rating and set a $42.00 target price on shares of Pagaya Technologies in a research report on Monday, August 12th. Benchmark began coverage on Pagaya Technologies in a research report on Monday, August 26th. They set a buy rating and a $21.00 target price for the company. Finally, Wedbush restated a neutral rating and set a $13.00 target price on shares of Pagaya Technologies in a research 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 stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $22.89.

Pagaya Technologies Trading Up 0.5 %

Pagaya Technologies stock opened at $9.99 on Monday. The business has a 50 day moving average price of $12.80 and a two-hundred day moving average price of $12.04. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The stock has a market cap of $708.29 million, a price-to-earnings ratio of -7.09 and a beta of 6.41. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $20.50.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.11). The company had revenue of $250.34 million during the quarter, compared to analyst estimates of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. As a group, equities analysts forecast that Pagaya Technologies will post -0.11 EPS for the current year.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, CFO Evangelos Perros sold 24,171 shares of Pagaya Technologies stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $13.55, for a total value of $327,517.05. Following the completion of the transaction, the chief financial officer now owns 23,791 shares in the company, valued at approximately $322,368.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Evangelos Perros sold 24,171 shares of Pagaya Technologies stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $13.55, for a total value of $327,517.05. Following the completion of the sale, the chief financial officer now directly owns 23,791 shares of the company’s stock, valued at approximately $322,368.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Sanjiv Das sold 10,794 shares of Pagaya Technologies stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $14.57, for a total value of $157,268.58. Following the completion of the sale, the president now directly owns 66,232 shares of the company’s stock, valued at $965,000.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,453 shares of company stock worth $973,545. 19.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in shares of Pagaya Technologies in the 2nd quarter valued at $74,000. SG Americas Securities LLC acquired a new stake in shares of Pagaya Technologies during the second quarter worth $101,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Pagaya Technologies during the first quarter worth $158,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Pagaya Technologies during the second quarter worth $166,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Pagaya Technologies during the second quarter worth $187,000. 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.