PayPay (NASDAQ:PAYP) Stock Price Up 5.6% - Still a Buy?

Key Points

• PayPay shares rose 5.6% to about $15.47, though trading volume was 92% below the stock’s average daily volume.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $24.45; however, several firms recently lowered their targets, and Weiss Ratings downgraded the stock to “sell.”
• PayPay beat quarterly earnings expectations with $0.17 EPS versus a $0.15 estimate and reported $675.02 million in revenue. BlueCrest Capital also initiated a position worth approximately $1.79 million.

Shares of PayPay Corporation (NASDAQ:PAYP - Get Free Report) traded up 5.6% during mid-day trading on Friday. The stock traded as high as $15.53 and last traded at $15.4660. Approximately 98,541 shares traded hands during trading, a decline of 92% from the average daily volume of 1,240,623 shares. The stock had previously closed at $14.65.

Analyst Ratings Changes

PAYP has been the topic of several research reports. Weiss Ratings lowered PayPay from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, August 19th. Cantor Fitzgerald restated an "overweight" rating on shares of PayPay in a research report on Tuesday, August 4th. Citigroup cut their price target on PayPay from $23.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Morgan Stanley raised PayPay from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $24.00 to $23.00 in a research note on Thursday, July 23rd. Finally, Mizuho decreased their price objective on shares of PayPay from $26.00 to $23.00 and set an "outperform" rating on the stock in a research report 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.45.

PayPay Price Performance

The company has a market cap of $10.60 billion and a PE ratio of 52.24. The firm has a 50-day simple moving average of $15.98 and a two-hundred day simple moving average of $16.96.

PayPay (NASDAQ:PAYP - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The fintech company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $675.02 million during the quarter. Equities research analysts forecast that PayPay Corporation will post 0.80 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in PayPay stock. BlueCrest Capital Management Ltd purchased a new position in shares of PayPay Corporation (NASDAQ:PAYP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 125,000 shares of the fintech company's stock, valued at approximately $1,791,000.

About PayPay

PayPay Corporation is a Japanese financial technology company that operates the PayPay mobile payment platform. Launched in 2018, the service enables consumers to make cashless payments at participating merchants using smartphones and QR codes.

In addition to payment services, PayPay offers related financial products and digital services in Japan, including peer-to-peer money transfers and access to services such as PayPay Bank, PayPay Card and PayPay Securities through its broader ecosystem.

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