B. Riley Trims Pagaya Technologies (NASDAQ:PGY) Target Price to $36.00

Pagaya Technologies (NASDAQ:PGY) had its price objective reduced by B. Riley from $48.00 to $36.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Pagaya Technologies’ Q4 2024 earnings at $0.10 EPS, FY2024 earnings at ($0.08) EPS and FY2025 earnings at $1.51 EPS.

Several other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Pagaya Technologies in a report on Monday, June 17th. They issued an outperform rating and a $23.00 target price on the stock. Canaccord Genuity Group reissued a buy rating and set a $42.00 price objective on shares of Pagaya Technologies in a report on Monday, August 12th. Benchmark began coverage on Pagaya Technologies in a report on Monday, August 26th. They issued a buy rating and a $21.00 target price on the stock. JMP Securities reissued a market outperform rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Finally, Wedbush reaffirmed a neutral rating and issued a $13.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $22.89.

Pagaya Technologies Stock Performance

Shares of PGY opened at $10.19 on Monday. The company has a market cap of $722.47 million, a price-to-earnings ratio of -7.23 and a beta of 6.36. The business’s fifty day simple moving average is $12.70 and its two-hundred day simple moving average is $12.03. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $20.50. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.72.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The business had revenue of $250.34 million during the quarter, compared to the consensus estimate of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. Research analysts anticipate that Pagaya Technologies will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Pagaya Technologies

In related news, CFO Evangelos Perros sold 24,171 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $13.55, for a total transaction of $327,517.05. Following the sale, the chief financial officer now owns 23,791 shares in the company, valued at approximately $322,368.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Evangelos Perros sold 24,171 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $13.55, for a total value of $327,517.05. Following 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tami Rosen sold 8,025 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $14.70, for a total value of $117,967.50. Following the transaction, the insider now owns 55,751 shares of the company’s stock, valued at approximately $819,539.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,453 shares of company stock worth $973,545. 19.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds have recently bought and sold shares of the business. nVerses Capital LLC bought a new position in Pagaya Technologies in the 2nd quarter worth about $74,000. SG Americas Securities LLC purchased a new position in Pagaya Technologies during the 2nd quarter worth $101,000. Cornerstone Investment Partners LLC bought a new stake in Pagaya Technologies during the 1st quarter valued at $158,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Pagaya Technologies during the 2nd quarter worth $166,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Pagaya Technologies during the second quarter valued at $187,000. 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.