PayPay Corporation's (NASDAQ:PAYP) Lock-Up Period Set To End on September 8th

Key Points

• PayPay’s lock-up period ends September 8, allowing insiders and major shareholders to sell shares. The company issued nearly 55 million shares in its March IPO at $16.00 per share, raising approximately $880 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $24.45, despite several recent target reductions.
• PayPay recently reported quarterly EPS of $0.17, beating expectations of $0.15, on revenue of $675.02 million. Shares opened at $15.13, while the stock has traded between $12.07 and $24.89 over the past year.

PayPay's (NASDAQ:PAYP - Get Free Report) lock-up period is set to end on Tuesday, September 8th. PayPay had issued 54,987,214 shares in its initial public offering on March 12th. The total size of the offering was $879,795,424 based on an initial share price of $16.00. After the end of PayPay's lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PAYP shares. Zacks Research upgraded PayPay to a "hold" rating in a research note on Thursday, June 11th. Morgan Stanley raised PayPay from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $24.00 to $23.00 in a research note on Thursday, July 23rd. Cantor Fitzgerald reiterated an "overweight" rating on shares of PayPay in a report on Tuesday, August 4th. Mizuho reduced their price objective on PayPay from $26.00 to $23.00 and set an "outperform" rating for the company in a research note on Tuesday, August 4th. Finally, Citigroup decreased their price objective on PayPay from $23.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. One equities 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.45.

PayPay Price Performance

PayPay stock opened at $15.13 on Tuesday. The company has a market capitalization of $10.24 billion and a price-to-earnings ratio of 50.43. The firm has a fifty day simple moving average of $15.18. PayPay has a 1-year low of $12.07 and a 1-year high of $24.89.

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

Institutional Trading of PayPay

An institutional investor recently bought a new stake in PayPay stock. NWF Advisory Services Inc. bought a new stake in shares of PayPay Corporation (NASDAQ:PAYP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 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.

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