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Pagaya Technologies Ltd. (PGY) Flat As Market Gains: What You Should Know

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The latest trading session saw Pagaya Technologies Ltd. (PGY - Free Report) ending at $11.14, denoting no adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.15%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.32%.

Shares of the company have depreciated by 27.9% over the course of the past month, underperforming the Business Services sector's loss of 0.73% and the S&P 500's gain of 1.65%.

The investment community will be closely monitoring the performance of Pagaya Technologies Ltd. in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.15, marking a 162.5% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $229.45 million, indicating a 22.94% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $0.95 per share and a revenue of $964.43 million, demonstrating changes of +295.83% and +21.8%, respectively, from the preceding year.

Investors should also pay attention to any latest changes in analyst estimates for Pagaya Technologies Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. Over the past month, there's been a 122.91% fall in the Zacks Consensus EPS estimate. Pagaya Technologies Ltd. presently features a Zacks Rank of #3 (Hold).

From a valuation perspective, Pagaya Technologies Ltd. is currently exchanging hands at a Forward P/E ratio of 11.77. This signifies a discount in comparison to the average Forward P/E of 24.31 for its industry.

The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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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