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Investing.com - JMP Securities maintained its Market Outperform rating and $26 price target on Pagaya Technologies (NASDAQ:PGY) Tuesday, citing the fintech company’s margin potential following recent cost management initiatives.
The research firm highlighted Pagaya’s B2B2C business model as a key differentiator from competitors, noting that working with lending partners rather than marketing directly to consumers helps drive "materially better margin potential versus other digital and marketplace lenders."
JMP pointed to the effective completion of all material investment initiatives for the foreseeable future, along with significant volume growth and partner additions in recent years as factors supporting its positive outlook on the company.
Based on recent management discussions and commentary at investor events, JMP sees a path for Pagaya to grow its topline metrics at approximately 20% annually while keeping operating expenses nearly flat on a dollar basis.
The firm’s maintained price target reflects confidence in Pagaya’s business model and growth trajectory as the company continues to implement its cost management strategy while expanding its lending partner relationships.
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