Pagaya Technologies Ltd. (PGY) ended the recent trading session at $17.62, demonstrating a -5.88% change from the preceding day's closing price. This change lagged the S&P 500's 0.51% gain on the day. At the same time, the Dow added 0.93%, and the tech-heavy Nasdaq gained 0.48%.
The stock of company has fallen by 19.52% in the past month, lagging the Finance sector's loss of 3.64% and the S&P 500's gain of 0.74%.
The investment community will be paying close attention to the earnings performance of Pagaya Technologies Ltd. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.97, reflecting a 4.9% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $382.55 million, indicating a 9.25% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.72 per share and revenue of $1.47 billion, which would represent changes of +12.39% and +13.01%, respectively, from the prior year.
Any recent changes to analyst estimates for Pagaya Technologies Ltd. should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Pagaya Technologies Ltd. holds a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Pagaya Technologies Ltd. is at present trading with a Forward P/E ratio of 5.03. This signifies a discount in comparison to the average Forward P/E of 11.2 for its industry.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 104, positioning it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Pagaya Technologies Ltd. (PGY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).