Pagaya Technologies Ltd. (PGY) experienced a significant surge of 9.27% during intraday trading on Tuesday. The financial technology company's stock price moved sharply higher as the trading session progressed.
The upward movement appears to be driven by analyst actions, with Canaccord Genuity and Benchmark both maintaining their Buy ratings on the stock. This positive sentiment comes despite several other firms, including KBW, Stephens, B. Riley, and Jefferies, reducing their price targets for the company.
According to analyst data, Pagaya Technologies maintains an average Buy rating with a mean price target of $28.40. The maintained confidence from some analysts seems to have outweighed concerns reflected in the lowered price targets from others, contributing to the stock's strong performance during the session.