Pagaya Technologies Ltd. (PGY) Moves 9.6% Higher: Will This Strength Last?

Pagaya Technologies Ltd. (PGY) 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), 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).Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pagaya Technologies Ltd. (PGY): Free Stock Analysis Report Acadian Asset Management Inc. (AAMI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks