Pagaya Technologies Stock Pops After Reporting Better-Than-Expected Q2 Sales Results, Raised Outlook
Portfolio Pulse from Ryan Gustafson
Pagaya Technologies Ltd. reported better-than-expected Q2 sales results of $195.61 million, beating the analyst consensus estimate of $187.80 million. The company also raised its outlook for FY23 revenue to between $775 million and $825 million. Network volume growth reached a record $1.96 billion, surpassing estimates. Following the announcement, PGY shares rose 32.50% in after-hours trading.
August 10, 2023 | 8:54 pm
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Pagaya Technologies reported better-than-expected Q2 sales and raised its FY23 outlook, leading to a 32.50% increase in PGY shares in after-hours trading.
The better-than-expected Q2 sales results and raised FY23 outlook reported by Pagaya Technologies are positive news for the company, which is likely to have led to the increase in the company's share price in after-hours trading. The strong network volume growth also indicates a positive trend in the company's operations, which could further support the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100