PayPay (NASDAQ:PAYP) Shares Up 6.3% – Here’s Why

PayPay Corporation (NASDAQ:PAYP)’s share price rose 6.3% during trading on Thursday . The stock traded as high as $16.67 and last traded at $16.7160. 166,111 shares changed hands during trading, a decline of 88% from the average daily volume of 1,362,369 shares. The stock had previously closed at $15.73.

Analyst Ratings Changes

PAYP has been the topic of several research analyst reports. Zacks Research raised PayPay to a “hold” rating in a report on Thursday, June 11th. Morgan Stanley upgraded shares of PayPay from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $24.00 to $23.00 in a research report on Thursday, July 23rd. Wolfe Research upped their price target 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. Citigroup lowered their price objective on PayPay from $23.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of PayPay in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PayPay has an average rating of “Moderate Buy” and an average price target of $24.45.

PayPay Price Performance

The firm has a market cap of $11.34 billion and a PE ratio of 55.94. The business’s fifty day moving average is $15.23.

PayPay (NASDAQ:PAYP) last posted its earnings results on Thursday, July 30th. The fintech company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $675.02 million during the quarter. On average, research analysts forecast that PayPay Corporation will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of PayPay

A hedge fund recently bought a new stake in PayPay stock. NWF Advisory Services Inc. acquired a new stake in PayPay Corporation (NASDAQ:PAYP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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.