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Pagaya Technologies Ltd. (PGY) Soars 12.4%: Is Further Upside Left in the Stock?
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Pagaya Technologies Ltd. (PGY - Free Report) shares rallied 12.4% in the last trading session to close at $14.62. 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 31.6% gain over the past four weeks.
Pagaya Technologies extended its rally for the second straight day, driven by optimism over the successful closing of two asset-backed securities (ABS) deals totaling $1 billion. The deals were oversubscribed, reflecting strong demand from 28 investors, many of whom were repeat participants.
This highlights the continued investor confidence in Pagaya’s AI-driven consumer credit assets???. The company’s ability to attract investor interest and solid reputation as the leading issuer of personal loan ABS in the United States bodes well for the stock.
This company is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of +4.2%. Revenues are expected to be $253.97 million, up 26.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Pagaya Technologies Ltd., the consensus EPS estimate for the quarter has been revised 100% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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, XP Inc.A (XP - Free Report) , finished the last trading session 3.1% lower at $17.07. XP has returned 1.8% over the past month.
XP Inc.A's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.40. Compared to the company's year-ago EPS, this represents a change of -7%. XP Inc.A currently boasts a Zacks Rank of #3 (Hold).
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Pagaya Technologies Ltd. (PGY) Soars 12.4%: Is Further Upside Left in the Stock?
Pagaya Technologies Ltd. (PGY - Free Report) shares rallied 12.4% in the last trading session to close at $14.62. 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 31.6% gain over the past four weeks.
Pagaya Technologies extended its rally for the second straight day, driven by optimism over the successful closing of two asset-backed securities (ABS) deals totaling $1 billion. The deals were oversubscribed, reflecting strong demand from 28 investors, many of whom were repeat participants.
This highlights the continued investor confidence in Pagaya’s AI-driven consumer credit assets???. The company’s ability to attract investor interest and solid reputation as the leading issuer of personal loan ABS in the United States bodes well for the stock.
This company is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of +4.2%. Revenues are expected to be $253.97 million, up 26.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Pagaya Technologies Ltd., the consensus EPS estimate for the quarter has been revised 100% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 #2 (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, XP Inc.A (XP - Free Report) , finished the last trading session 3.1% lower at $17.07. XP has returned 1.8% over the past month.
XP Inc.A's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.40. Compared to the company's year-ago EPS, this represents a change of -7%. XP Inc.A currently boasts a Zacks Rank of #3 (Hold).