In the latest close session, Pagaya Technologies Ltd. (PGY) was down 1.71% at $18.35. This move lagged the S&P 500's daily loss of 0.84%. Elsewhere, the Dow saw a downswing of 0.7%, while the tech-heavy Nasdaq depreciated by 0.91%.
Shares of the company witnessed a gain of 30.56% over the previous month, beating the performance of the Finance sector with its loss of 0%, and the S&P 500's gain of 1.44%.
Analysts and investors alike will be keeping a close eye on the performance of Pagaya Technologies Ltd. in its upcoming earnings disclosure. The company is expected to report EPS of $0.62, up 520% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $298.1 million, up 19.08% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.45 per share and a revenue of $1.23 billion, demonstrating changes of +195.18% and +19.94%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Pagaya Technologies Ltd. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Pagaya Technologies Ltd. presently features a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Pagaya Technologies Ltd. currently has a Forward P/E ratio of 11.21. This represents a discount compared to its industry average Forward P/E of 11.84.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 38% of all 250+ industries.
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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