In the latest trading session, 0.43 million Pagaya Technologies Ltd (NASDAQ:PGY) shares changed hands as the company’s beta touched 6.17. With the company’s most recent per share price at $9.34 changing hands around $0.48 or 5.42% at last look, the market valuation stands at $687.94M. PGY’s current price is a discount, trading about -114.13% off its 52-week high of $20.00. The share price had its 52-week low at $8.20, which suggests the last value was 12.21% up since then. When we look at Pagaya Technologies Ltd’s average trading volume, we note the 10-day average is 1.69 million shares, with the 3-month average coming to 2.22 million.
Analysts gave the Pagaya Technologies Ltd (PGY) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.60. If we narrow down to specifics, the data shows that 0 out of 13 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended PGY as a Hold, 10 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 0.27.
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Pagaya Technologies Ltd (NASDAQ:PGY) trade information
Instantly PGY is in green as seen in intraday trades today. With action -4.11%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -43.60%, with the 5-day performance at -4.11% in the red. However, in the 30-day time frame, Pagaya Technologies Ltd (NASDAQ:PGY) is -2.40% down. Looking at the short shares, we see there were 7.26 million shares sold at short interest cover period of 2.64 days.
The consensus price target for the stock as assigned by Wall Street analysts is 21, meaning bulls need an upside of 55.52% from its recent market value. According to analyst projections, PGY’s forecast low is 21 with 21 as the target high. To hit the forecast high, the stock’s price needs a -124.84% plunge from its current level, while the stock would need to soar -124.84% 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 -23.76% over the past 6 months, a 283.33% in annual growth rate that is considerably higher than the industry average of 7.80%. Year-over-year growth is forecast to reach 25.36% up from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of 265.41M. 7 analysts are of the opinion that Pagaya Technologies Ltd’s revenue for the current quarter will be 276.21M. The company’s revenue for the corresponding quarters a year ago was 218.04M and 245.28M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 21.72%. The estimates for the next quarter sales put growth at 12.61%.
The 2024 estimates are for Pagaya Technologies Ltd earnings to decrease by -21.32%.
PGY Dividends
Pagaya Technologies Ltd is expected to release its next quarterly earnings report in January.
Pagaya Technologies Ltd (NASDAQ:PGY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 15.58% of Pagaya Technologies Ltd shares while 52.74% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.47%. There are 52.74% institutions holding the Pagaya Technologies Ltd stock share, with VIOLA VENTURES V.C. MANAGEMENT 4 LTD. the top institutional holder. As of 2024-06-30, the company held 12.6747% of the shares, roughly 8.18 million PGY shares worth $104.32 million.
X-SQUARE CAPITAL, LLC holds the second largest percentage of outstanding shares, with 0.0184% or 11879.0 shares worth $0.15 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2023 were ARK ETF Tr-ARK Israel Innovative Technology ETF and iShares Core MSCI EAFE ETF. With 1.49 shares estimated at $13.9 million under it, the former controlled 0.28% of total outstanding shares. On the other hand, iShares Core MSCI EAFE ETF held about 0.18% of the shares, roughly 968.99 shares worth around $9.04 million.
