Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Pagaya Technologies Ltd. (PGY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Pagaya Technologies Ltd. is a member of our Finance group, which includes 868 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Pagaya Technologies Ltd. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PGY's full-year earnings has moved 11.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, PGY has moved about 216.5% on a year-to-date basis. In comparison, Finance companies have returned an average of 14.4%. This means that Pagaya Technologies Ltd. is performing better than its sector in terms of year-to-date returns.
Another stock in the Finance sector, Alerus (ALRS), has outperformed the sector so far this year. The stock's year-to-date return is 14.5%.
In Alerus' case, the consensus EPS estimate for the current year increased 7.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Pagaya Technologies Ltd. belongs to the Financial - Miscellaneous Services industry, which includes 103 individual stocks and currently sits at #79 in the Zacks Industry Rank. On average, this group has gained an average of 7.4% so far this year, meaning that PGY is performing better in terms of year-to-date returns. Alerus is also part of the same industry.
Going forward, investors interested in Finance stocks should continue to pay close attention to Pagaya Technologies Ltd. and Alerus as they could maintain their solid performance.
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Pagaya Technologies Ltd. (PGY): Free Stock Analysis Report Alerus Financial (ALRS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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