Pagaya Technologies Ltd [NASDAQ: PGY] stock went on an upward path that rose over 8.18% on Monday, amounting to a one-week price increase of more than 9.17%. The company report on February 7, 2024 at 8:30 AM that Pagaya Closes Five-Year $280M Credit Facility with BlackRock, UBS, JPMorgan Chase and Other Lenders.
World’s top global asset managers and financial institutions provide capital to Pagaya to support the Company’s financial strategy and future growth.
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Pagaya Technologies LTD. (NASDAQ: PGY) (“Pagaya” or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, announced today the closing of a credit facility with participation from Funds and Accounts managed by BlackRock U.S. Private Capital (“BlackRock”), UBS O’Connor, JPMorgan Chase, Valley Bank, and Israel Discount Bank. The facility, which consists of a $255 million term loan and a $25 million revolver, provides the capital and liquidity needed to support the Company’s future growth, extends its corporate debt maturity to 2029 and validates investors’ confidence in Pagaya’s business model and financial strength.
Over the last 12 months, PGY stock rose by 6.25%. The one-year Pagaya Technologies Ltd stock forecast points to a potential upside of 62.93. The average equity rating for PGY stock is currently 1.33, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $849.01 million, with 508.38 million shares outstanding and 334.50 million shares in the current float. Compared to the average trading volume of 0.96 shares, PGY stock reached a trading volume of 7788039 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Pagaya Technologies Ltd [PGY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PGY shares is $3.21 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PGY stock is a recommendation set at 1.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Pagaya Technologies Ltd shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 14, 2023.
The Average True Range (ATR) for Pagaya Technologies Ltd is set at 0.09, with the Price to Sales ratio for PGY stock in the period of the last 12 months amounting to 1.15. The Price to Book ratio for the last quarter was 1.58, with the Price to Cash per share for the same quarter was set at 0.39.
PGY Stock Performance Analysis:
Pagaya Technologies Ltd [PGY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.17. With this latest performance, PGY shares gained by 8.18% in over the last four-week period, additionally sinking by -55.09% over the last 6 months – not to mention a rise of 6.25% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PGY stock in for the last two-week period is set at 51.03, with the RSI for the last a single of trading hit 56.23, and the three-weeks RSI is set at 48.76 for Pagaya Technologies Ltd [PGY]. The present Moving Average for the last 50 days of trading for this stock 1.2666, while it was recorded at 1.1200 for the last single week of trading, and 1.4756 for the last 200 days.
Insight into Pagaya Technologies Ltd Fundamentals:
Pagaya Technologies Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.63 and a Current Ratio set at 4.63.
PGY Stock EPS
With the latest financial reports released by the company, Pagaya Technologies Ltd posted -0.05/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 37.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PGY.
Pagaya Technologies Ltd [PGY] Institutonal Ownership Details
The top three institutional holders of PGY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PGY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PGY stock with ownership which is approximately 5.8325%.
