Pagaya Technologies (NASDAQ:PGY) Announces Earnings Results, Misses Estimates By $0.32 EPS

Pagaya Technologies (NASDAQ:PGY) issued its quarterly earnings results on Thursday. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32), Zacks reports. The company had revenue of $279.39 million during the quarter, compared to analysts’ expectations of $264.28 million. Pagaya Technologies had a negative net margin of 18.48% and a positive return on equity of 1.01%. During the same period in the prior year, the business posted $0.24 earnings per share. Pagaya Technologies updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

Pagaya Technologies Price Performance

PGY traded up $0.73 during trading on Friday, reaching $15.37. The company’s stock had a trading volume of 4,083,099 shares, compared to its average volume of 1,483,567. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The firm has a fifty day simple moving average of $9.77 and a two-hundred day simple moving average of $11.13. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $20.00. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -6.05 and a beta of 6.09.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PGY. UBS Group began coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They issued a “neutral” rating and a $11.00 price target on the stock. JMP Securities raised their price target on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research note on Friday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday. Finally, Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.17.

Insider Activity

In related news, CFO Evangelos Perros sold 21,305 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $212,410.85. Following the completion of the sale, the chief financial officer now owns 54,029 shares in the company, valued at approximately $538,669.13. This trade represents a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tami Rosen sold 21,547 shares of Pagaya Technologies stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total transaction of $214,823.59. Following the completion of the sale, the insider now owns 73,550 shares of the company’s stock, valued at $733,293.50. This trade represents a 22.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,692 shares of company stock valued at $1,205,379. 49.56% of the stock is currently owned by company insiders.

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.