Pagaya Technologies: Yes, It's Been Ugly -- But The Long-Term Case Remains Intact

Pagaya (PGY) remains a Strong Buy despite a brutal downtrend and market repricing of software stocks. PGY trades at just 4.5x forward P/E, with network volume growth and double-digit top-line growth projected. Management's risk-reduction strategy is viewed positively, indicating sustainable growth and strong client retention.