Analyst Peter Christiansen of Citi reiterated a Buy rating on Pagaya Technologies Ltd, with a price target of $40.00.
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Peter Christiansen has given his Buy rating due to a combination of factors that highlight Pagaya Technologies Ltd’s strong financial performance and promising future prospects. The company reported robust third-quarter results, with a 19% increase in network volume and a significant beat on adjusted EBITDA, indicating strong operational efficiency. Additionally, the company’s credit impairments were well below initial expectations, showcasing effective risk management.
Moreover, Pagaya’s strategic partnerships and expanding engagement with existing partners suggest a solid growth trajectory. The favorable conditions in capital markets, including recent deals, further bolster the company’s position. Christiansen also notes that the company’s forward outlook, with an increased adjusted EBITDA and projected positive GAAP net income, supports the Buy rating, despite the slight reduction in the FY25 network volume outlook.
Christiansen covers the Technology sector, focusing on stocks such as Bullish, Paychex, and Strategy. According to TipRanks, Christiansen has an average return of 5.7% and a 53.50% success rate on recommended stocks.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $39.00 price target.