Pagaya Technologies Ltd reports results for the quarter ended June 30 - Earnings Summary

• Pagaya Technologies Ltd PGY reported quarterly adjusted earnings of 64 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $-1.04. The mean expectation of ten analysts for the quarter was for earnings of 21 cents per share. Wall Street expected results to range from 6 cents to 52 cents per share.

• Revenue rose 30.4% to $326.40 million from a year ago; analysts expected $315.25 million.

• Pagaya Technologies Ltd's reported EPS for the quarter was 20 cents​.

• The company reported quarterly net income of $15.64 million.

• Pagaya Technologies Ltd shares had risen by 47.1% this quarter and gained 237.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 30.3% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy," 1 "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 $30.50, about 2.8% below its last closing price of $31.36

This summary was machine generated from LSEG data August 7 at 05:28 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)