In the latest trading session, Pagaya Technologies Ltd. (PGY) closed at $11.69, marking a -2.09% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.11%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.35%.
Shares of the company have appreciated by 9.44% over the course of the past month, outperforming the Finance sector's gain of 1.15%, and the S&P 500's gain of 0.51%.
The investment community will be closely monitoring the performance of Pagaya Technologies Ltd. in its forthcoming earnings report. On that day, Pagaya Technologies Ltd. is projected to report earnings of $0.48 per share, which would represent a year-over-year decline of 30.43%. Simultaneously, our latest consensus estimate expects the revenue to be $320.5 million, showing a 10.52% escalation compared to the year-ago quarter.
PGY's full-year Zacks Consensus Estimates are calling for earnings of $2.88 per share and revenue of $1.48 billion. These results would represent year-over-year changes of -12.99% and +13.97%, respectively.
Investors might also notice recent changes to analyst estimates for Pagaya Technologies Ltd. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.45% increase. As of now, Pagaya Technologies Ltd. holds a Zacks Rank of #4 (Sell).
Investors should also note Pagaya Technologies Ltd.'s current valuation metrics, including its Forward P/E ratio of 4.15. This valuation marks a discount compared to its industry average Forward P/E of 11.84.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 37% 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).