BlueCrest Capital Management Ltd Makes New Investment in PayPay Corporation $PAYP

Key Points

• BlueCrest Capital Management acquired 125,000 PayPay shares worth approximately $1.79 million during the second quarter, while NWF Advisory Services also opened a roughly $211,000 position.
• Analyst sentiment is mixed but leans positive: PayPay has a “Moderate Buy” consensus rating and an average price target of $24.45, despite some target reductions and a recent downgrade to “Sell” from Weiss Ratings.
• PayPay reported quarterly earnings of $0.17 per share, exceeding estimates of $0.15, on revenue of $675.02 million. Shares opened at $17.58, with a market capitalization of about $11.9 billion and a 52-week range of $12.07 to $24.89.

BlueCrest Capital Management Ltd acquired a new stake in shares of PayPay Corporation (NASDAQ:PAYP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 125,000 shares of the fintech company's stock, valued at approximately $1,791,000.

Separately, NWF Advisory Services Inc. acquired a new position in PayPay during the 2nd quarter valued at approximately $211,000.

Analysts Set New Price Targets

A number of research firms have issued reports on PAYP. Morgan Stanley raised shares of PayPay from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $24.00 to $23.00 in a report on Thursday, July 23rd. Mizuho cut their target price on PayPay from $26.00 to $23.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 4th. Weiss Ratings lowered PayPay from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 19th. Wolfe Research boosted their price target on PayPay from $18.00 to $21.00 and gave the company an "outperform" rating in a research note on Tuesday, August 25th. Finally, Zacks Research raised PayPay to a "hold" rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PayPay presently has an average rating of "Moderate Buy" and an average price target of $24.45.

PayPay Price Performance

Shares of NASDAQ:PAYP opened at $17.58 on Thursday. The stock's 50-day simple moving average is $15.51. PayPay Corporation has a 1 year low of $12.07 and a 1 year high of $24.89. The stock has a market capitalization of $11.90 billion and a price-to-earnings ratio of 58.60.

PayPay (NASDAQ:PAYP - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The fintech company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The business 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 fiscal year.

About PayPay

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.

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