Pagaya Technologies (PGY) Surges 12.8% on Earnings Beat, Higher Outlook

We precocious published 10 Stocks Beating the Market with Eye-Popping Gains. Pagaya Technologies Ltd. (NASDAQ:PGY) is 1 of the best-performing stocks connected Monday.

Pagaya Technologies rallied for a 2nd time connected Monday, jumping 12.80 percent to adjacent astatine $27.58 aft beating its net expectations successful the past 4th and raising its maturation guidance for the full-year 2025.

In an updated report, Pagaya Technologies Ltd. (NASDAQ:PGY) said it swung to a nett income attributable to shareholders of $22.5 cardinal from $67.48 cardinal successful the aforesaid play past year, beating its earlier guidance of $10 cardinal to $20 cardinal for the period, acknowledgment to gross growth, little expenses, and normalized impairments.

Total revenues and different income ended astatine $350 million, hitting the higher extremity of its erstwhile gross guidance and marking a 36 percent maturation from the $257 cardinal year-on-year, driven by higher revenues from fees.

Image by MayoFi from Pixabay

Following the results, Pagaya Technologies Ltd. (NASDAQ:PGY) raised its full-year guidance for nett profit, revenues, and adjusted EBITDA, among others.

Net income is present targeted astatine a scope of $72 cardinal to $82 million, versus $55 cardinal to $75 cardinal previously.

Revenues are besides expected to summation to a scope of $1.3 cardinal to $1.325 billion, from its erstwhile expectations of astatine slightest $1.25 billion.

For the 4th fourth alone, nett income is projected to settee anyplace betwixt $25 cardinal and $35 million, portion revenues are expected to beryllium astatine $333 cardinal to $358 million.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.