Added to YB: 2025-11-11
Pitch date: 2025-11-06
PGY [neutral]
Pagaya Technologies Ltd.
-0.39%
current return
Author Info
Equity research team focused on tech stocks (with special interest in cybersecurity and cloud). Sign up for their newsletter.
Company Info
Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial services and other service providers, their customers, and asset investors in the United States, Israel, and the Cayman Islands.
Market Cap
$1.9B
Pitch Price
$22.79
Price Target
150.00 (+561%)
Dividend
N/A
EV/EBITDA
10.12
P/E
-9.45
EV/Sales
2.11
Sector
Software
Category
turnaround
Pagaya: From First-Loss Pain to Forward-Flow Discipline
PGY (overview): Unique bridge between lenders' declined apps & institutional ABS buyers. 2024 exposed fragility w/ $442M impairments in Opportunity Fund (44.6% loss rate), but sharp recovery in 1H25 to 1.7% losses. Blue Owl $2.4B & Castlelake $2.5B forward-flows reduce ABS dependence. At 2.5x EV/S, 18x EV/FCF, DCF suggests ~$150 intrinsic value vs ~$30 current. Key test: 3Q25 results Nov 10 on sustained low impairments & governance improvements.
Read full article (18 min)