PayPay (NASDAQ:PAYP) Trading 4.6% Higher – Here’s Why

by · The Markets Daily

PayPay Corporation (NASDAQ:PAYP – Get Free Report) shares traded up 4.6% on Thursday . The stock traded as high as $18.63 and last traded at $18.3870. Approximately 312,026 shares changed hands during trading, a decline of 77% from the average daily volume of 1,362,955 shares. The stock had previously closed at $17.58.

Wall Street Analyst Weigh In

PAYP has been the subject of several recent analyst reports. Wolfe Research upped their price objective on shares of PayPay from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. Citigroup reduced their price target on PayPay from $23.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Weiss Ratings lowered PayPay from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of PayPay in a report on Tuesday, August 4th. Finally, Morgan Stanley upgraded PayPay from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $24.00 to $23.00 in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PayPay presently has a consensus rating of “Moderate Buy” and an average price target of $24.45.

Read Our Latest Analysis on PayPay

PayPay Price Performance

The stock’s 50-day moving average is $15.51. The stock has a market capitalization of $12.61 billion and a price-to-earnings ratio of 61.80.

PayPay (NASDAQ:PAYP – Get Free Report) last announced its earnings results on Thursday, July 30th. The fintech company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. The firm had revenue of $675.02 million during the quarter. As a group, equities analysts forecast that PayPay Corporation will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On PayPay

A hedge fund recently bought a new stake in PayPay stock. NWF Advisory Services Inc. purchased a new position in PayPay Corporation (NASDAQ:PAYP – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 14,700 shares of the fintech company’s stock, valued at approximately $211,000.

About PayPay

(Get Free Report)

PayPay Corporation is a Japanese financial technology company that operates the PayPay mobile payment platform. Launched in 2018, the service enables consumers to make cashless payments at participating merchants by scanning QR codes or presenting payment codes through a smartphone application.

In addition to in-store payments, PayPay offers online checkout and peer-to-peer money transfers. Its broader ecosystem includes related financial services such as PayPay Card, consumer credit and lending products, investment services, and other digital financial tools, with availability depending on the product and applicable regulations.

PayPay primarily serves consumers and businesses in Japan.

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