Is Pagaya Technologies Ltd. (PGY) Stock Outpacing Its Finance Peers This Year?

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? Let's take a closer look at the stock's year-to-date performance to find out.

Pagaya Technologies Ltd. is a member of the Finance sector. This group includes 857 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Pagaya Technologies Ltd. is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for PGY's full-year earnings has moved 89.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, PGY has gained about 102.9% so far this year. In comparison, Finance companies have returned an average of 4.6%. This means that Pagaya Technologies Ltd. is performing better than its sector in terms of year-to-date returns.

Barclays (BCS) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 32.9%.

For Barclays, the consensus EPS estimate for the current year has increased 11% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Pagaya Technologies Ltd. belongs to the Financial - Miscellaneous Services industry, a group that includes 88 individual stocks and currently sits at #141 in the Zacks Industry Rank. On average, stocks in this group have lost 4.1% this year, meaning that PGY is performing better in terms of year-to-date returns.

Barclays, however, belongs to the Banks - Foreign industry. Currently, this 66-stock industry is ranked #15. The industry has moved +22.4% so far this year.

Investors with an interest in Finance stocks should continue to track Pagaya Technologies Ltd. and Barclays. These stocks will be looking to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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