Pagaya Technologies Ltd (NASDAQ:PGY) price on Thursday, May 22, rose 8.68% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $15.27.
A look at the stock’s price movement, the close in the last trading session was $14.05. Turning to its 52-week performance, $19.20 and $8.20 were the 52-week high and 52-week low respectively. Overall, PGY moved 51.04% over the past month.
Pagaya Technologies Ltd’s market cap currently stands at around $1.16 billion, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 299.07M for the company’s revenue for the quarter, with a low and high estimate of 292.9M and 304.8M respectively. The average forecast suggests up to a 19.46% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.23B, representing a 19.40% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PGY is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
13 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 10 recommend PGY as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PGY’s current price about 16.26% and 32.85% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 66.48, while 7-day volatility ratio is 4.91% and 5.90% in the 30-day chart. Further, Pagaya Technologies Ltd (PGY) has a beta value of 5.89, and an average true range (ATR) of 0.96. Analysts have given the company’s stock an average 52-week price target of $26, forecast between a low of $26 and high of $26. Looking at the price targets, the low is -70.27% off current price level while to achieve the yearly target high, price needs to move -70.27%. Nonetheless, investors will most likely welcome a -70.27% jump to $26 which is the analysts’ median price.
If we refocus on Pagaya Technologies Ltd (NASDAQ:PGY), historical trading data shows that trading volumes averaged 2.02 million over the past 3 months. The company’s latest data on shares outstanding shows there are 62.78 million shares.
The 47.65% of Pagaya Technologies Ltd’s shares are in the hands of company insiders while institutional holders own 38.28% of the company’s shares. Current price change has pushed the stock 64.37% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PGY stock continues to rise going into the next quarter.
