Is Pagaya Technologies Ltd. (NASDAQ:PGY) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating Pagaya Technologies Ltd. at current levels.
AI underwriting middleware for the loans banks won't touch, trading at 5x forward earnings because nobody believes the print.
Where PGY is headed
Pagaya's core product is doing something structurally strange. It sits behind US lenders like SoFi, OneMain, Klarna, US Bank and Ally, and when those lenders decline a loan application, Pagaya's AI takes a second look and funds the ones its models say are actually good credit. The lender keeps the customer, Pagaya's institutional funding partners take the paper, Pagaya takes a fee. The business converts what was previously waste, declined applications, into a securitization pipeline. In 2026 that pipeline is running at roughly $10 billion of annual network volume with $207M of free cash flow against a $1.7B market cap.
Read the full Compass Direction on PGY
The complete destination call, the overlooked angle, milestones, and bull, base, and bear price scenarios (around $18.26).
See the full PGY analysisGet calls like this, free
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Frequently asked questions
Is Pagaya Technologies Ltd. (NASDAQ:PGY) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating Pagaya Technologies Ltd. at current levels. AI underwriting middleware for the loans banks won't touch, trading at 5x forward earnings because nobody believes the print.
What is PGY's Compass Score?
Pagaya Technologies Ltd. scores 82/100 on Alexandria's Compass, placing it in the "True North" tier. Scores blend eight factors and update weekly.
What is the price target for PGY?
Alexandria's full Compass Direction includes bull, base, and bear price scenarios with the valuation math behind each. Read the full breakdown on the PGY page.
Compass verdicts are AI-generated, forward-looking editorial research from publicly available data, not investment advice or a recommendation regarding any security. Scores and verdicts update as the data changes.