We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Pagaya Technologies Ltd. (PGY) Moves 9.6% Higher: Will This Strength Last?
Read MoreHide Full Article
Pagaya Technologies Ltd. (PGY - Free Report) shares rallied 9.6% in the last trading session to close at $21.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.9% gain over the past four weeks.
Shares of Pagaya Technologies rallied for the second straight trading session and touched a new 52-week high of $21.45. The optimism across the broader markets over trade deals and hopes of interest rate cuts sooner than expected turned investors bullish on financial services stocks. As such, PGY stock moved higher on Friday.
This company is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents a year-over-year change of +520%. Revenues are expected to be $298.1 million, up 19.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Pagaya Technologies Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PGY going forward to see if this recent jump can turn into more strength down the road.
Pagaya Technologies Ltd. is a member of the Zacks Financial - Miscellaneous Services industry. One other stock in the same industry, Acadian Asset Management (AAMI - Free Report) , finished the last trading session 3% higher at $35.26. AAMI has returned 13.9% over the past month.
Acadian Asset Management's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.51. Compared to the company's year-ago EPS, this represents a change of +13.3%. Acadian Asset Management currently boasts a Zacks Rank of #1 (Strong Buy).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Pagaya Technologies Ltd. (PGY) Moves 9.6% Higher: Will This Strength Last?
Pagaya Technologies Ltd. (PGY - Free Report) shares rallied 9.6% in the last trading session to close at $21.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.9% gain over the past four weeks.
Shares of Pagaya Technologies rallied for the second straight trading session and touched a new 52-week high of $21.45. The optimism across the broader markets over trade deals and hopes of interest rate cuts sooner than expected turned investors bullish on financial services stocks. As such, PGY stock moved higher on Friday.
This company is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents a year-over-year change of +520%. Revenues are expected to be $298.1 million, up 19.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Pagaya Technologies Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PGY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Pagaya Technologies Ltd. is a member of the Zacks Financial - Miscellaneous Services industry. One other stock in the same industry, Acadian Asset Management (AAMI - Free Report) , finished the last trading session 3% higher at $35.26. AAMI has returned 13.9% over the past month.
Acadian Asset Management's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.51. Compared to the company's year-ago EPS, this represents a change of +13.3%. Acadian Asset Management currently boasts a Zacks Rank of #1 (Strong Buy).