PayPay (NASDAQ:PAYP) Shares Up 6.3% - Still a Buy?

Key Points

• PayPay shares rose 6.3% to about $16.72 in midday trading, although volume was 88% below the average daily level.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $24.45, despite some target-price cuts and one “Sell” rating.
• PayPay exceeded quarterly earnings expectations, reporting EPS of $0.17 versus the $0.15 consensus estimate and revenue of $675.02 million; the stock trades at a relatively high P/E ratio of 55.94.

Shares of PayPay Corporation (NASDAQ:PAYP - Get Free Report) were up 6.3% during mid-day trading on Thursday . The company traded as high as $16.67 and last traded at $16.7160. Approximately 166,111 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,362,369 shares. The stock had previously closed at $15.73.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Zacks Research upgraded PayPay to a "hold" rating in a research report on Thursday, June 11th. Weiss Ratings cut shares of PayPay from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 19th. Mizuho dropped their target price on shares of PayPay from $26.00 to $23.00 and set an "outperform" rating for the company in a research report on Tuesday, August 4th. Morgan Stanley raised shares of PayPay from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $24.00 to $23.00 in a research note on Thursday, July 23rd. Finally, Citigroup dropped their price objective on shares of PayPay from $23.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.45.

PayPay Stock Up 6.5%

The company has a market cap of $11.34 billion and a price-to-earnings ratio of 55.94. The business's 50-day moving average is $15.23.

PayPay (NASDAQ:PAYP - Get Free Report) last released 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. Equities research analysts anticipate that PayPay Corporation will post 0.8 earnings per share for the current year.

Institutional Inflows and Outflows

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 second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 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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