Pagaya Technologies Ltd. (PGY) closed the most recent trading day at $21.19, moving -1.76% from the previous trading session. This change lagged the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.24%.
The company's stock has dropped by 10.61% in the past month, falling short of the Finance sector's gain of 2.19% and the S&P 500's gain of 0.94%.
Investors will be eagerly watching for the performance of Pagaya Technologies Ltd. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.75, signifying a 341.18% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $348.35 million, indicating a 24.68% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.1 per share and revenue of $1.32 billion, which would represent changes of +273.49% and +28.43%, respectively, from the prior year.
Any recent changes to analyst estimates for Pagaya Technologies Ltd. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pagaya Technologies Ltd. is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Pagaya Technologies Ltd. currently has a Forward P/E ratio of 6.96. This denotes a discount relative to the industry average Forward P/E of 12.15.
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 111, this industry ranks in the top 45% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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