Pagaya Technologies Stock Surges on Analyst Optimism

Pagaya Technologies (PGY) shares rallied nearly 17% this week following bullish analyst sentiment. The fintech company's stock gained momentum after Citizens JMP and B. Riley raised price targets to $35 and $54 respectively, maintaining buy ratings.

The upgrades came on the heels of Pagaya's Q2 earnings report, which showcased diversification beyond its Core personal loan business. David Scharf of Citizens JMP highlighted expanding revenue streams as justification for his increased GAAP earnings multiple, while B. Riley's Hal Goetsch followed suit with a more conservative adjustment.

This marks the latest in a series of positive analyst moves for Pagaya since its earnings release. The stock's performance reflects growing confidence in the company's ability to monetize its AI-driven financial infrastructure across multiple verticals.