Pagaya Technologies Ltd. (NASDAQ: PGY) stock jumped 2.83% on Wednesday to $1.09 against a previous-day closing price of $1.06. With 2.8 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.92 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $1.1450 whereas the lowest price it dropped to was $1.0000. 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 $1.82.
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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 up-trending over the past week, with a rise of 26.30%, but this was up by 31.33% over a month. Three-month performance surged to 1.87% while six-month performance rose 10.09%. The stock lost -89.02% in the past year, while it has lost -12.10% so far this year. A look at the trailing 12-month EPS for PGY yields -0.46 with Next year EPS estimates of -0.01. For the next quarter, that number is -0.03. This implies an EPS growth rate of -133.40% for this year and 92.90% for next year.
Float and Shares Shorts:
At present, 711.07 million PGY shares are outstanding with a float of 226.37 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.84 million, which was 0.55% higher than short shares on Mar 30, 2023. In addition to Mr. Gal Krubiner as the firm’s CEO, Co-Founder & Director, Mr. Avital Pardo serves as its CTO, Co-Founder & Director.
Through their ownership of 51.67% of PGY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 30.32% of PGY, in contrast to 0.34% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in PGY with 8.24% of the stake, Tiger Global Management LLC holds 43,631,359 shares worth 43,631,359. A second-largest stockholder of PGY, GIC Pte Ltd., holds 42,867,434 shares, controlling over 8.10% of the firm’s shares. Clal Pension & Provident Funds Lt is the third largest shareholder in PGY, holding 42,715,869 shares or 8.07% stake. With a 0.13% stake in PGY, the BlueStar TA-BIGITech Israel Techn is the largest stakeholder. A total of 662,915 shares are owned by the mutual fund manager. The Global X FinTech ETF, which owns about 0.13% of PGY stock, is the second-largest Mutual Fund holder. It holds 661,857 shares valued at 0.57 million. Fidelity Nasdaq Composite Index E holds 0.03% of the stake in PGY, owning 174,093 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 Mar 30, 2023, 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.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PGY since 0 analysts follow the stock currently. 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 $3.00 and a low target of $1.00, the average target price over the next 12 months is $1.82. Based on these targets, PGY could surge 175.23% to reach the target high and fall by -8.26% to reach the target low. Reaching the average price target will result in a growth of 66.97% 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.