Financial Technology

Pagaya Technologies (NASDAQ:PGY) Earns Neutral Rating from Analysts at UBS Group

Equities research analysts at UBS Group began coverage on shares of Pagaya Technologies (NASDAQ:PGYGet Rating) in a report released on Friday, The Fly reports. The brokerage set a “neutral” rating and a $1.25 price target on the stock. UBS Group’s price objective indicates a potential upside of 0.81% from the stock’s previous close.

A number of other research firms have also weighed in on PGY. Canaccord Genuity Group initiated coverage on Pagaya Technologies in a report on Wednesday, December 14th. They set a “hold” rating and a $1.50 target price on the stock. Wedbush began coverage on Pagaya Technologies in a report on Wednesday, October 12th. They set a “neutral” rating and a $2.00 price objective for the company. Finally, Canaccord Genuity Group began coverage on Pagaya Technologies in a research note on Wednesday, December 14th. They set a “hold” rating and a $1.50 target price on the stock. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.65.

Pagaya Technologies Price Performance

Shares of PGY opened at $1.24 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.94 and a current ratio of 4.93. The company’s fifty day simple moving average is $1.01 and its 200 day simple moving average is $5.97. Pagaya Technologies has a 1-year low of $0.57 and a 1-year high of $34.50.

Pagaya Technologies (NASDAQ:PGYGet Rating) last announced its quarterly earnings data on Thursday, November 10th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $185.61 million during the quarter, compared to the consensus estimate of $178.00 million. As a group, analysts expect that Pagaya Technologies will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PGY. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Pagaya Technologies in the 2nd quarter valued at $6,270,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in Pagaya Technologies during the second quarter worth about $160,964,000. Millennium Management LLC acquired a new stake in Pagaya Technologies during the second quarter worth about $301,000. ExodusPoint Capital Management LP bought a new position in Pagaya Technologies in the 2nd quarter valued at about $113,000. Finally, Jane Street Group LLC acquired a new position in shares of Pagaya Technologies in the 2nd quarter valued at approximately $103,000. 22.60% of the stock is owned by institutional investors.

About Pagaya Technologies

(Get Rating)

Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and the Cayman Islands. It develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. Its partners include high-growth financial technology companies, incumbent financial institutions, auto finance providers, and brokers.

Further Reading

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Analyst Recommendations for Pagaya Technologies (NASDAQ:PGY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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