Does Pagaya Technologies Ltd. (PGY) offer a good opportunity for investors?

Pagaya Technologies Ltd. (NASDAQ: PGY) stock jumped 7.14% on Monday to $1.05 against a previous-day closing price of $0.98. With 1.02 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.84 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $1.0500 whereas the lowest price it dropped to was $0.9599. The 52-week range on PGY shows that it touched its highest point at $34.50 and its lowest point at $0.57 during that stretch. It currently has a 1-year price target of $4.19.

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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 -4.55%, but this was up by 58.13% over a month. Three-month performance dropped to -19.23% while six-month performance fell -91.03%. The stock lost -89.37% in the past year, while it has lost -15.32% so far this year. A look at the trailing 12-month EPS for PGY yields -0.28 with Next year EPS estimates of -0.17.


Float and Shares Shorts:

At present, 681.07 million PGY shares are outstanding with a float of 451.76 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.37 million, which was 0.20% higher than short shares on Sep 14, 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 43.84% of PGY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 28.55% of PGY, in contrast to 0.41% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in PGY with 14.70% 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 7.92% of the firm’s shares. EJF Capital LLC is the third largest shareholder in PGY, holding 17,892,500 shares or 3.54% stake. With a 0.15% stake in PGY, the BlueStar TA-BIGITech Israel Techn is the largest stakeholder. A total of 736,570 shares are owned by the mutual fund manager. The Global X FinTech ETF, which owns about 0.12% of PGY stock, is the second-largest Mutual Fund holder. It holds 587,789 shares valued at 0.73 million. Fidelity Nasdaq Composite Index F holds 0.04% of the stake in PGY, owning 223,820 shares worth 0.28 million.


Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PGY since 4 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 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 $1.00, the average target price over the next 12 months is $1.44. Based on these targets, PGY could surge 90.48% to reach the target high and fall by -4.76% to reach the target low. Reaching the average price target will result in a growth of 37.14% 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 -$0.09 being high and -$0.45 being low. For PGY, this leads to a yearly average estimate of -$0.33. 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 -$0.04 and the low estimate is -$0.09. The average estimate for the next quarter is thus -$0.07.

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