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Pagaya Technologies Ltd. (PGY) Laps the Stock Market: Here's Why

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In the latest market close, Pagaya Technologies Ltd. (PGY - Free Report) reached $9.41, with a +1.84% movement compared to the previous day. This change outpaced the S&P 500's 0.02% gain on the day. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.

The company's shares have seen a decrease of 12.33% over the last month, not keeping up with the Business Services sector's loss of 5.08% and the S&P 500's loss of 3.01%.

The investment community will be closely monitoring the performance of Pagaya Technologies Ltd. in its forthcoming earnings report. The company is scheduled to release its earnings on May 9, 2024. The company is expected to report EPS of $0.16, up 166.67% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $229.45 million, indicating a 22.94% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $0.98 per share and revenue of $997.77 million, which would represent changes of +308.33% and +26.01%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pagaya Technologies Ltd. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 22.73% higher within the past month. At present, Pagaya Technologies Ltd. boasts a Zacks Rank of #3 (Hold).

Looking at valuation, Pagaya Technologies Ltd. is presently trading at a Forward P/E ratio of 9.43. This represents a discount compared to its industry's average Forward P/E of 23.22.

The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 152, finds itself in the bottom 40% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.


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