Pagaya Technologies (NASDAQ:PGY) Given New $39.00 Price Target at Canaccord Genuity Group

Pagaya Technologies (NASDAQ:PGY) had its target price boosted by Canaccord Genuity Group from $36.00 to $39.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research firms have also commented on PGY. B. Riley lifted their price target on Pagaya Technologies from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pagaya Technologies in a report on Tuesday, October 14th. Wall Street Zen downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 30th. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Pagaya Technologies from $27.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.67.

Pagaya Technologies Price Performance

Shares of PGY opened at $27.77 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.42 and a quick ratio of 1.42. Pagaya Technologies has a 1-year low of $8.20 and a 1-year high of $44.99. The stock has a market cap of $2.13 billion, a PE ratio of -10.40 and a beta of 5.83. The firm has a fifty day moving average price of $31.99 and a 200 day moving average price of $26.12.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Monday, November 10th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.46. Pagaya Technologies had a positive return on equity of 33.10% and a negative net margin of 15.32%.The business had revenue of $350.17 million for the quarter, compared to analysts’ expectations of $338.86 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up 36.3% compared to the same quarter last year. Pagaya Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Pagaya Technologies will post 0.88 EPS for the current year.

Insiders Place Their Bets

In related news, President Sanjiv Das sold 13,304 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $40.62, for a total transaction of $540,408.48. Following the transaction, the president owned 96,885 shares of the company’s stock, valued at $3,935,468.70. This represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Evangelos Perros sold 14,356 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $37.34, for a total value of $536,053.04. Following the completion of the transaction, the chief financial officer owned 59,079 shares of the company’s stock, valued at $2,206,009.86. The trade was a 19.55% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 95,081 shares of company stock worth $3,475,010. Company insiders own 47.59% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in PGY. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Pagaya Technologies in the 2nd quarter valued at about $25,000. Versant Capital Management Inc purchased a new stake in Pagaya Technologies during the third quarter worth about $25,000. Virtus Advisers LLC acquired a new position in Pagaya Technologies during the first quarter worth about $35,000. LSV Asset Management acquired a new position in Pagaya Technologies during the third quarter worth about $36,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Pagaya Technologies by 35.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock valued at $42,000 after buying an additional 520 shares in the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

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.