Stocks of Pagaya Technologies Ltd (NASDAQ:PGY) traded higher last session on Wall Street, up 7.80% to $1.52.
According to the data, Pagaya Technologies Ltd (NASDAQ:PGY) has 6 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $6.00 and a low of $2.75, we find $3.25. Given the previous closing price of $1.41, this indicates a potential upside of 130.5 percent. PGY stock price is now -26.86% away from the 50-day moving average and 11.90% away from the 200-day moving average. The market capitalization of the company currently stands at $1.08B.
A total of 2 analysts have issued a hold rating and 4 have given it a buy rating. Brokers who have rated the stock have averaged $3.71 as their price target over the next twelve months.
With the price target of $2.75, JMP Securities recently initiated with Mkt Outperform rating for Pagaya Technologies Ltd (NASDAQ: PGY).
A total of 57.95% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PGY stock. A new stake in Pagaya Technologies Ltd shares was purchased by JOSH ARNOLD INVESTMENT CONSULTANT, LLC during the first quarter worth $2,615,000. ETF MANAGERS GROUP, LLC invested $1,008,000 in shares of PGY during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in Pagaya Technologies Ltd valued at approximately $385,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in PGY for approximately $179,000. RAYMOND JAMES & ASSOCIATES purchased a new stake in PGY valued at around $140,000 in the second quarter. In total, there are 52 active investors with 17.32% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $1.3700 for Pagaya Technologies Ltd (NASDAQ: PGY). During the past 12 months, Pagaya Technologies Ltd has had a low of $0.57 and a high of $2.83. As of last week, the company has a debt-to-equity ratio of 0.83, a current ratio of 3.77, and a quick ratio of 3.77. The fifty day moving average price for PGY is $2.0646 and a two-hundred day moving average price translates $1.3627 for the stock.
The latest earnings results from Pagaya Technologies Ltd (NASDAQ: PGY) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at -$0.04, missing analysts’ expectations of -$0.02 by -0.02. This compares to -$0.64 EPS in the same period last year. The net profit margin was -27.74% and return on equity was -36.41% for PGY. The company reported revenue of $195.61 million for the quarter, compared to $181.55 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.75 percent. For the current quarter, analysts expect PGY to generate $196.96M in revenue.
Pagaya Technologies Ltd(PGY) Company Profile
Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and internationally. It primarily develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. The company’s partners include high-growth financial technology companies, incumbent banks and financial institutions, auto finance providers, and residential real estate service providers. Pagaya Technologies Ltd. was incorporated in 2016 and is headquartered in Tel Aviv, Israel.
