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Why the Market Dipped But Pagaya Technologies Ltd. (PGY) Gained Today
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The most recent trading session ended with Pagaya Technologies Ltd. (PGY - Free Report) standing at $9.77, reflecting a +0.41% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.34%. Elsewhere, the Dow saw an upswing of 0.23%, while the tech-heavy Nasdaq depreciated by 0.33%.
Heading into today, shares of the company had gained 2.64% over the past month, outpacing the Business Services sector's loss of 6.97% and the S&P 500's loss of 4.05% in that time.
The upcoming earnings release of Pagaya Technologies Ltd. will be of great interest to investors. The company's earnings report is expected on May 9, 2024. The company's earnings per share (EPS) are projected to be $0.16, reflecting a 166.67% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $229.45 million, up 22.94% from the year-ago period.
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. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 22.73% higher. As of now, Pagaya Technologies Ltd. holds a Zacks Rank of #3 (Hold).
In terms of valuation, Pagaya Technologies Ltd. is currently trading at a Forward P/E ratio of 9.93. This indicates a discount in contrast to its industry's Forward P/E of 23.65.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why the Market Dipped But Pagaya Technologies Ltd. (PGY) Gained Today
The most recent trading session ended with Pagaya Technologies Ltd. (PGY - Free Report) standing at $9.77, reflecting a +0.41% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.34%. Elsewhere, the Dow saw an upswing of 0.23%, while the tech-heavy Nasdaq depreciated by 0.33%.
Heading into today, shares of the company had gained 2.64% over the past month, outpacing the Business Services sector's loss of 6.97% and the S&P 500's loss of 4.05% in that time.
The upcoming earnings release of Pagaya Technologies Ltd. will be of great interest to investors. The company's earnings report is expected on May 9, 2024. The company's earnings per share (EPS) are projected to be $0.16, reflecting a 166.67% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $229.45 million, up 22.94% from the year-ago period.
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. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 22.73% higher. As of now, Pagaya Technologies Ltd. holds a Zacks Rank of #3 (Hold).
In terms of valuation, Pagaya Technologies Ltd. is currently trading at a Forward P/E ratio of 9.93. This indicates a discount in contrast to its industry's Forward P/E of 23.65.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.