Stocks of Pagaya Technologies Ltd. (PGY) are poised to climb above their peers

Pagaya Technologies Ltd. (NASDAQ: PGY) stock jumped 1.01% on Wednesday to $1.00 against a previous-day closing price of $0.99. With 0.8 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.65 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $1.0100 whereas the lowest price it dropped to was $0.9702. The 52-week range on PGY shows that it touched its highest point at $34.50 and its lowest point at $0.96 during that stretch. It currently has a 1-year price target of $7.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PGY was down-trending over the past week, with a drop of -15.97%, but this was down by -25.37% over a month. Three-month performance dropped to -92.72% while six-month performance fell -89.94%. The stock lost -89.96% in the past year, while it has lost -89.93% so far this year. A look at the trailing 12-month EPS for PGY yields -0.28 with Next year EPS estimates of -0.13.

Float and Shares Shorts:

At present, 458.95 million PGY shares are outstanding with a float of 451.76 million shares on hand for trading. On Oct 30, 2022, short shares totaled 1.84 million, which was 0.27% higher than short shares on Sep 29, 2022. In addition to Mr. Gal Krubiner as the firm’s CEO, Co-Founder & Director, Mr. Ashok Valiram Vaswani serves as its Pres.


Institutional Ownership:

Through their ownership of 46.56% of PGY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 31.63% of PGY, in contrast to 0.32% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in PGY with 16.21% of the stake, Tiger Global Management LLC holds 74,384,378 shares worth 74,384,378. A second-largest stockholder of PGY, Clal Pension & Provident Funds Lt, holds 40,090,969 shares, controlling over 8.74% of the firm’s shares. EJF Capital LLC is the third largest shareholder in PGY, holding 17,892,500 shares or 3.90% stake. With a 0.15% stake in PGY, the Global X FinTech ETF is the largest stakeholder. A total of 700,988 shares are owned by the mutual fund manager. The Fidelity Nasdaq Composite Index F, which owns about 0.06% of PGY stock, is the second-largest Mutual Fund holder. It holds 281,071 shares valued at 0.39 million. Lumyna – MW TOPS UCITS Fund holds 0.02% of the stake in PGY, owning 108,787 shares worth 0.15 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, PGY reported revenue of $163.30M and operating income of -$168.87M. The EBITDA in the recently reported quarter was -$169.87M and diluted EPS was -$0.24.


Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PGY since 2 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PGY analysts setting a high price target of $2.00 and a low target of $2.00, the average target price over the next 12 months is $2.00. Based on these targets, PGY could surge 100.0% to reach the target high and rise by 100.0% to reach the target low. Reaching the average price target will result in a growth of 100.0% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.. Analysts have provided yearly estimates in a range of -$0.43 being high and -$0.45 being low. For PGY, this leads to a yearly average estimate of -$0.44. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Pagaya Technologies Ltd. surprised analysts by -$0.08 when it reported -$0.11 EPS against a consensus estimate of -$0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.06 and the low estimate is -$0.08. The average estimate for the next quarter is thus -$0.07.

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