PayPay Corporation’s (NASDAQ:PAYP) Lock-Up Period Will End on September 8th

PayPay’s (NASDAQ:PAYP) lock-up period will end on Tuesday, September 8th. PayPay had issued 54,987,214 shares in its IPO on March 12th. The total size of the offering was $879,795,424 based on an initial share price of $16.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PAYP. Cantor Fitzgerald restated an “overweight” rating on shares of PayPay in a research note on Tuesday, August 4th. Zacks Research upgraded PayPay to a “hold” rating in a research report on Thursday, June 11th. Citigroup reduced their target price on PayPay from $23.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Wolfe Research boosted their target price on shares of PayPay from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Finally, Mizuho lowered their price target on shares of PayPay from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.45.

PayPay Price Performance

Shares of NASDAQ:PAYP opened at $15.73 on Thursday. The stock has a market cap of $10.65 billion and a price-to-earnings ratio of 52.43. The stock’s 50 day moving average price is $15.23. PayPay has a 12 month low of $12.07 and a 12 month high of $24.89.

PayPay (NASDAQ:PAYP) last issued its quarterly earnings data 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 for the quarter. On average, sell-side analysts expect that PayPay will post 0.8 EPS for the current year.

Institutional Investors Weigh In On PayPay

An institutional investor recently bought a new stake in PayPay stock. NWF Advisory Services Inc. acquired a new stake in PayPay Corporation (NASDAQ:PAYP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,700 shares of the fintech company’s stock, valued at approximately $211,000.

PayPay Company Profile

As Japan’s leading financial technology company, we are dedicated to our goal of becoming a digital finance platform for all. We strive to empower the everyday lives of users and businesses by transforming their smartphones into a comprehensive, easy-to-use, and accessible financial platform that centralizes and simplifies numerous daily activities for ultimate convenience. Through a seamless ecosystem of payment, financial and everyday services, we have served as a game-changer in driving the shift to a cashless and digitally empowered economy.