Citi Maintains "Buy" Rating on Pagaya Technologies (PGY) With $40 PT

Pagaya Technologies Ltd. (NASDAQ:PGY) is included in our list of the overlooked tech stocks to invest in.

On November 11, 2025, Citi’s analyst Peter Christiansen revisited Pagaya Technologies Ltd. (NASDAQ:PGY)’s stock, reiterating his “Buy” rating with a $40 price target. The analyst’s bullish stance reflects the company’s strong performance in the third quarter, reflecting both operational strength and strategic execution. He particularly highlighted 19% YoY growth in network volume noted during the quarter, alongside a substantial adjusted EBITDA beat that reflected signs of efficiency and scale. Furthermore, he shed light on credit impairments, which came in well below expectations.

On November 10, 2025, Pagaya Technologies Ltd. (NASDAQ:PGY) released its Q3 earnings results. The company recorded $350 million in total revenue, up 36% YoY, driven by its record network volume of $2.8 billion. Meanwhile, adjusted EBITDA grew 91% to $107 million, helping the company record $1.02 in diluted non-GAAP adjusted earnings per share.

The quarter also marked the strengthening of the balance sheet, with continued diversification of funding, including multiple ABS transactions and a $500 million corporate bond offering. Looking ahead, Pagaya Technologies Ltd. (NASDAQ:PGY)’s management remains optimistic about sustained growth through expanding partnerships and growing demand across point-of-sale and auto segments.

Pagaya Technologies Ltd. (NASDAQ:PGY), a global AI-driven fintech company, leverages machine learning and vast data networks to make consumer credit and real estate financing more accessible.

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