Pagaya Technologies Ltd. (NASDAQ:PGY) reported mixed fourth-quarter financial results and issued first-quarter sales guidance below estimates on Monday.
Pagaya Technologies reported quarterly earnings of 80 cents per share which beat the analyst consensus estimate of 69 cents per share. The company reported quarterly sales of $321.036 million which missed the analyst consensus estimate of $349.048 million.
Pagaya Techs said it sees first-quarter sales of $315.000 million to $335.000 million, versus market estimates of $346.734 million.
“Our fourth quarter and full-year results demonstrate, again, the benefits of years of work to position our company for long-term durable growth with a focus on increasing profitability, benefitting from our prior investments across the entire enterprise. Looking ahead, we will continue to leverage our platform and our disciplined risk framework, to further bridge the gap between Main Street and Wall Street,” said Gal Krubiner CEO & Co-Founder.
Pagaya Technologies shares gained 1% to trade at $14.34 on Tuesday.
These analysts made changes to their price targets on Pagaya Technologies following earnings announcement.
- Canaccord Genuity analyst Joseph Vafi maintained Pagaya Techs with a Buy and cut the price target from $39 to $32.
- Benchmark analyst Mark Palmer maintained the stock with a Buy and lowered the price target from $48 to $33.
Considering buying PGY stock? Here’s what analysts think:
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