Pagaya Technologies Ltd (PGY – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Peter Christiansen from Citi upgraded the rating on the stock to a Buy and gave it a $14.50 price target.
Peter Christiansen has given his Buy rating due to a combination of factors pointing towards an improved risk/reward scenario for Pagaya Technologies Ltd. Despite recent markdowns impacting the stock, there is an expectation of a positive shift in investor sentiment. This optimism is driven by the anticipated increase in network volume from new partnerships, rising demand for personal loans, and continued efficiency gains in core operations.
Additionally, projections indicate that the company will turn GAAP net income positive by 2025, with its stock trading at an attractive valuation. Revenue growth and EBITDA margin expansions are expected, with a notable increase in FY’25 volume and take-rate expectations, leading to revenue growth above consensus. These factors collectively justify the Buy rating with a target price of $14.50, reflecting a potential 31% upside.
According to TipRanks, Christiansen is a 4-star analyst with an average return of 7.4% and a 62.43% success rate. Christiansen covers the Technology sector, focusing on stocks such as Corpay Inc, WEX, and Block.
In another report released yesterday, JMP Securities also maintained a Buy rating on the stock with a $25.00 price target.