The Most Interesting Shares Today: Pagaya Technologies Ltd (NASDAQ: PGY)

In the last trading session, 3.15 million Pagaya Technologies Ltd (NASDAQ:PGY) shares changed hands as the company’s beta touched 7.36. With the company’s per share price at $1.39 changed hands at $0.09 or 6.92% during last session, the market valuation stood at $954.85M. PGY’s last price was a discount, traded about -103.6% off its 52-week high of $2.83. The share price had its 52-week low at $0.57, which suggests the last value was 58.99% up since then. When we look at Pagaya Technologies Ltd’s average trading volume, we note the 10-day average is 6.43 million shares, with the 3-month average coming to 6.26 million.

Analysts gave the Pagaya Technologies Ltd (PGY) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.40. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended PGY as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Pagaya Technologies Ltd’s EPS for the current quarter is expected to be -$0.01.

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Pagaya Technologies Ltd (NASDAQ:PGY) trade information

Instantly PGY was in green as seen at the end of in last trading. With action 12.10%, the performance over the past five days has been green. The jump to weekly highs of 1.5500 on Friday, 11/17/23 added 6.92% to the stock’s daily price. The company’s shares are showing year-to-date upside of 12.10%, with the 5-day performance at 12.10% in the green. However, in the 30-day time frame, Pagaya Technologies Ltd (NASDAQ:PGY) is 12.10% up. Looking at the short shares, we see there were 5.21 million shares sold at short interest cover period of 0.95 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.55, meaning bulls need an upside of 60.85% from its current market value. According to analyst projections, PGY’s forecast low is $2.00 with $6.00 as the target high. To hit the forecast high, the stock’s price needs a -331.65% plunge from its current level, while the stock would need to soar -43.88% for it to hit the projected low.

Pagaya Technologies Ltd (PGY) estimates and forecasts

Data shows that the Pagaya Technologies Ltd share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 56.64% over the past 6 months, a 142.86% in annual growth rate that is considerably higher than the industry average of 12.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Pagaya Technologies Ltd will rise 80.00%, while the growth in revenue is estimated to hit 88.90% for the next quarter. Year-over-year growth is forecast to reach 9.00% up from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $222.53 million. 5 analysts are of the opinion that Pagaya Technologies Ltd’s revenue for the quarter ending Mar 2024 will be $229.21 million. The company’s revenue for the corresponding quarters a year ago was $192.81 million and $186.64 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 15.40%. The estimates for the next quarter sales put growth at 22.80%.

The 2023 estimates are for Pagaya Technologies Ltd earnings to increase by 73.62%.

PGY Dividends

Pagaya Technologies Ltd is expected to release its next quarterly earnings report in December.

Pagaya Technologies Ltd (NASDAQ:PGY)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 25.95% of Pagaya Technologies Ltd shares while 49.13% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 66.36%. There are 49.13% institutions holding the Pagaya Technologies Ltd stock share, with Viola Ventures V.c. Management 4 Ltd. the top institutional holder. As of Sep 29, 2023, the company held 18.37% of the shares, roughly 98.11 million PGY shares worth $136.37 million.

Clal Insurance Enterprises Holdings Ltd holds the second largest percentage of outstanding shares, with 5.26% or 28.09 million shares worth $39.05 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Israel Innovative Technology ETF and Global X Fds-Global X FinTech ETF. With 0.94 million shares estimated at $1.3 million under it, the former controlled 0.18% of total outstanding shares. On the other hand, Global X Fds-Global X FinTech ETF held about 0.11% of the shares, roughly 0.6 million shares worth around $0.83 million.

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