Pagaya Technologies Ltd. (PGY) ended the recent trading session at $23.30, demonstrating a +1.97% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.64% for the day. Elsewhere, the Dow saw an upswing of 0.47%, while the tech-heavy Nasdaq appreciated by 0.52%.
Prior to today's trading, shares of the company had gained 5.64% outpaced the Finance sector's gain of 4.92% and the S&P 500's gain of 3%.
Analysts and investors alike will be keeping a close eye on the performance of Pagaya Technologies Ltd. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.75, reflecting a 341.18% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $348.35 million, indicating a 24.68% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $3.1 per share and a revenue of $1.32 billion, demonstrating changes of +273.49% and +28.43%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pagaya Technologies Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Pagaya Technologies Ltd. is currently a Zacks Rank #2 (Buy).
In the context of valuation, Pagaya Technologies Ltd. is at present trading with a Forward P/E ratio of 7.37. This signifies a discount in comparison to the average Forward P/E of 12.18 for its industry.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 87, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Pagaya Technologies Ltd. (PGY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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