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Pagaya Technologies Ltd. - PGY STOCK NEWS

Welcome to our dedicated page for Pagaya Technologies Ltd. news (Ticker: PGY), a resource for investors and traders seeking the latest updates and insights on Pagaya Technologies Ltd. stock.

Pagaya Technologies Ltd., a financial technology company, is revolutionizing the lending marketplace through the use of advanced machine learning, big data analytics, and AI-driven credit analysis technology. By leveraging its proprietary API, Pagaya seamlessly integrates with an extensive network of partners to enhance the customer experience and provide greater access to credit. The company primarily generates its revenue from the United States and has been a key player in modernizing the credit industry.

Pagaya’s core business focuses on offering cutting-edge solutions that improve the efficiency and accuracy of credit assessments. This helps financial institutions make better lending decisions, ultimately benefiting both lenders and borrowers. The firm’s technology harnesses the power of artificial intelligence to analyze vast amounts of data, ensuring that credit evaluations are both thorough and reliable.

Recent achievements include significant partnerships with leading financial institutions, enhancing their ability to serve a wider range of customers. These collaborations have allowed Pagaya to expand its reach and influence within the credit industry.

Current projects at Pagaya involve the continuous refinement of its AI algorithms and the expansion of its data analytics capabilities. These efforts aim to further streamline the credit assessment process, making it even more efficient and user-friendly.

Financially, Pagaya Technologies Ltd. has shown robust performance, with a strong revenue stream primarily from its services in the United States. The company's focus on innovation and strategic partnerships has positioned it as a leader in the fintech space.

Overall, Pagaya Technologies Ltd. is dedicated to reshaping the credit landscape, providing a comprehensive solution that benefits the entire credit ecosystem. Its commitment to leveraging advanced technology to improve credit access and user experience highlights its significance in the financial technology sector.

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Pagaya Technologies Ltd. (PGY) appoints Evangelos Perros as the Chief Financial Officer (CFO) after his successful tenure as Interim CFO. Perros brings over 25 years of industry experience and has led the finance organization, including securing a $280 million credit facility. The company's co-founder and CEO, Gal Krubiner, expresses full confidence in Perros' ability to drive Pagaya's financial and capital strategy forward.
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Pagaya Technologies LTD. (NASDAQ: PGY) announced the closing of a credit facility with participation from top global asset managers and financial institutions, including BlackRock, UBS O’Connor, JPMorgan Chase, Valley Bank, and Israel Discount Bank. The facility consists of a $255 million term loan and a $25 million revolver, providing capital and liquidity for future growth and extending corporate debt maturity to 2029. The company also secured new lending partners and pre-announced strong full-year 2023 financial performance, with Network Volume exceeding $8.2 billion and Adjusted EBITDA exceeding $75 million.
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Pagaya Technologies LTD. (NASDAQ: PGY) announced the closing of PAID 2024-1, its 48th asset-backed securitization (ABS), raising $396 million of notes backed by personal loans. The company has raised over $20 billion in ABS transactions since 2018 and remains the number one personal loan ABS issuer by issuance size in the U.S. The transaction reflects strong investment demand coming into 2024, with 40 unique investors participating, the majority of whom were repeat investors. Pagaya's Chief Capital Officer, Paul Limanni, expressed confidence in the company's track record of success and the meaningful reduction in average spread across the capital structure.
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Pagaya Technologies (NASDAQ: PGY) is set to announce its fourth quarter 2023 earnings on February 21, 2024. A conference call to discuss the earnings will be held on the same day at 8:30 a.m. ET / 3:30 p.m. IDT. Details for the live webcast presentation and dial-in information will be available on Pagaya's IR website. The webcast replay will also be accessible on the IR website after the event.
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Pagaya Technologies Ltd. announced its participation in the 26th Annual Needham Growth Conference on January 17, 2024, in New York, NY. The management team will present at 4:30 PM ET, and a live webcast and replay will be available on the Pagaya investor relations website.
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Pagaya Technologies Ltd. (NASDAQ: PGY) announces plans to voluntarily file on U.S. domestic issuer forms with the SEC and relocate its global headquarters to New York City. The company also plans for a reverse split of its ordinary shares expected in Q1 2024. Preliminary full-year 2023 financial results are expected to exceed outlook ranges, with Network Volume, Total Revenue, and Adjusted EBITDA performing well.
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Lessen (NASDAQ: PGY) partners with Darwin Homes, Inc. to create a centralized repair and maintenance platform, signaling a pivotal shift in the real estate landscape. The partnership aims to bring tremendous value to the market by leveraging innovative technology for single-family residential property management.
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Pagaya Technologies Ltd. (NASDAQ: PGY) has announced a partnership with Exeter Finance, a premier auto finance company, to utilize Pagaya’s AI-driven auto credit-decisioning product across their national network of 13,000+ auto dealers. By integrating Pagaya's AI-driven auto product, Exeter can help auto dealerships sell more vehicles without taking on incremental risk. This partnership is expected to contribute 15-20% of Pagaya’s total network volume in the next three years, bringing the company closer to its medium-term target of $25 billion in annual volume.
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Pagaya Technologies Ltd. (NASDAQ: PGY) announced the appointment of Nicole Torraco to its Board of Directors. Torraco brings 20 years of experience in M&A, investment, risk management, and corporate strategy. She was most recently the President of FITTLE, the financing arm of Xerox Corporation, and has held various leadership roles in global finance. Pagaya's CEO, Gal Krubiner, expressed excitement about Torraco's appointment and her expertise in innovative technology solutions and product development. Torraco aims to support Pagaya in achieving its medium-term financial goals, including reaching $25 billion in network volume.
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Pagaya Technologies Ltd. (PAGA) announces participation in investor conferences, including Wedbush Disruptive Finance Conference on December 1, 2023, and Jefferies Specialty Finance Crossover Summit on December 7, 2023.
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FAQ

What is the current stock price of Pagaya Technologies Ltd. (PGY)?

The current stock price of Pagaya Technologies Ltd. (PGY) is $9.57 as of November 22, 2024.

What is the market cap of Pagaya Technologies Ltd. (PGY)?

The market cap of Pagaya Technologies Ltd. (PGY) is approximately 679.8M.

What does Pagaya Technologies Ltd. do?

Pagaya Technologies Ltd. uses machine learning, big data analytics, and AI-driven technology to improve the credit assessment process.

Where does Pagaya Technologies Ltd. generate most of its revenue?

Pagaya Technologies Ltd. generates the majority of its revenue from the United States.

How does Pagaya Technologies Ltd. improve the credit ecosystem?

Pagaya improves the credit ecosystem by providing advanced AI technology that enables more accurate and efficient credit assessments.

What recent achievements has Pagaya Technologies Ltd. made?

Recently, Pagaya has formed significant partnerships with leading financial institutions, expanding its reach and impact in the credit industry.

What are the current projects at Pagaya Technologies Ltd.?

Current projects include refining AI algorithms and expanding data analytics capabilities to improve the credit assessment process.

Why is Pagaya Technologies Ltd. significant in the fintech sector?

Pagaya is significant because it leverages advanced technology to enhance credit access and user experience, positioning it as a leader in fintech.

Who are Pagaya Technologies Ltd.'s partners?

Pagaya has partnerships with various leading financial institutions, which help to broaden its service offerings and reach.

How does Pagaya Technologies Ltd. use its proprietary API?

Pagaya's proprietary API integrates with its partner network to streamline the credit process and provide a premium user experience.

What technology does Pagaya Technologies Ltd. use for credit analysis?

Pagaya uses machine learning, big data analytics, and sophisticated AI-driven technology for credit analysis.

What is Pagaya Technologies Ltd.'s mission?

Pagaya's mission is to reshape the lending marketplace by using advanced technology to improve credit access and assessments.

Pagaya Technologies Ltd.

Nasdaq:PGY

PGY Rankings

PGY Stock Data

679.84M
49.94M
18.12%
52.53%
7.94%
Software - Infrastructure
Finance Services
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United States of America
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