Pagaya Technologies Ltd reports results for the quarter ended in June - Earnings Summary

Pagaya Technologies

09/08/2024 15:43

* Pagaya Technologies Ltd  PGY.OQ  reported a quarterly
adjusted
loss of $1.04​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of -48 cents.  The mean expectation of eight analysts for the
quarter was for a loss of one cent per share. Wall Street
expected results to range from -23 cents to 15 cents per share.
    * Revenue rose 28% to $250.34 million from a year ago;
analysts
expected $239.25 million. 
    * Pagaya Technologies Ltd's reported EPS for the quarter was
a
loss of $1.04​.
    * The company reported a quarterly loss of $74.79 million.
    * Pagaya Technologies Ltd shares had risen by 18.3% this
quarter and lost 8.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 33.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the financial
technology (fintech) peer group is also "buy"

Wall Street's median 12-month price target for Pagaya
Technologies Ltd is $25.00 
This summary was machine generated from LSEG data August 9 at
02:43 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.01          -1.04          Missed
 Mar. 31 2024      -0.04          -0.33          Missed
 Dec. 31 2023      -0.17          -0.24          Missed
 Sep. 30 2023      -0.24          -0.36          Missed