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Pagaya Technologies Ltd. (PGY) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest close session, Pagaya Technologies Ltd. (PGY - Free Report) was down 2.1% at $15.42. The stock fell short of the S&P 500, which registered a gain of 0.5% for the day. Meanwhile, the Dow gained 0.7%, and the Nasdaq, a tech-heavy index, added 0.31%.
Shares of the company witnessed a gain of 15.81% over the previous month, beating the performance of the Finance sector with its gain of 1.89%, and the S&P 500's loss of 0.23%.
The upcoming earnings release of Pagaya Technologies Ltd. will be of great interest to investors. On that day, Pagaya Technologies Ltd. is projected to report earnings of $0.71 per share, which would represent year-over-year growth of 10.94%. Simultaneously, our latest consensus estimate expects the revenue to be $358.15 million, showing a 9.73% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.23 per share and revenue of $1.48 billion, which would represent changes of -2.42% and +13.68%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Pagaya Technologies Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Pagaya Technologies Ltd. is carrying a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Pagaya Technologies Ltd. is presently being traded at a Forward P/E ratio of 4.88. This indicates a discount in contrast to its industry's Forward P/E of 10.68.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Pagaya Technologies Ltd. (PGY) Stock Drops Despite Market Gains: Important Facts to Note
In the latest close session, Pagaya Technologies Ltd. (PGY - Free Report) was down 2.1% at $15.42. The stock fell short of the S&P 500, which registered a gain of 0.5% for the day. Meanwhile, the Dow gained 0.7%, and the Nasdaq, a tech-heavy index, added 0.31%.
Shares of the company witnessed a gain of 15.81% over the previous month, beating the performance of the Finance sector with its gain of 1.89%, and the S&P 500's loss of 0.23%.
The upcoming earnings release of Pagaya Technologies Ltd. will be of great interest to investors. On that day, Pagaya Technologies Ltd. is projected to report earnings of $0.71 per share, which would represent year-over-year growth of 10.94%. Simultaneously, our latest consensus estimate expects the revenue to be $358.15 million, showing a 9.73% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.23 per share and revenue of $1.48 billion, which would represent changes of -2.42% and +13.68%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Pagaya Technologies Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Pagaya Technologies Ltd. is carrying a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Pagaya Technologies Ltd. is presently being traded at a Forward P/E ratio of 4.88. This indicates a discount in contrast to its industry's Forward P/E of 10.68.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.