PayPay (NASDAQ:PAYP) Trading Up 4.6% - Should You Buy?

Key Points

• PayPay shares rose 4.6% to about $18.39, although trading volume was 77% below the average session level.
• Analysts hold a consensus “Moderate Buy” rating with a $24.45 target price; recommendations range from Strong Buy to Sell.
• PayPay beat quarterly EPS expectations, reporting $0.17 versus the $0.15 consensus, while generating $675.02 million in revenue. Its stock trades at a relatively high P/E ratio of 61.80.

PayPay Corporation (NASDAQ:PAYP - Get Free Report) shares traded up 4.6% on Thursday . The company traded as high as $18.63 and last traded at $18.3870. Approximately 312,026 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,362,955 shares. The stock had previously closed at $17.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PAYP shares. Zacks Research raised shares of PayPay to a "hold" rating in a research note on Thursday, June 11th. Wolfe Research lifted their price objective on shares of PayPay from $18.00 to $21.00 and gave the stock an "outperform" rating in a report on Tuesday, August 25th. Weiss Ratings cut PayPay from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 19th. Morgan Stanley upgraded PayPay from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $24.00 to $23.00 in a research report on Thursday, July 23rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of PayPay in a report on Tuesday, August 4th. One research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.45.

PayPay Stock Performance

The company's 50 day simple moving average is $15.51. The firm has a market capitalization of $12.61 billion and a P/E ratio of 61.80.

PayPay (NASDAQ:PAYP - Get Free Report) last issued its earnings results on Thursday, July 30th. The fintech company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. The business had revenue of $675.02 million during the quarter. Equities analysts forecast that PayPay Corporation will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On PayPay

An institutional investor recently bought a new stake in PayPay stock. BlueCrest Capital Management Ltd purchased a new position in PayPay Corporation (NASDAQ:PAYP - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 by scanning QR codes or presenting payment codes through a smartphone application.

In addition to in-store payments, PayPay offers online checkout and peer-to-peer money transfers. Its broader ecosystem includes related financial services such as PayPay Card, consumer credit and lending products, investment services, and other digital financial tools, with availability depending on the product and applicable regulations.

PayPay primarily serves consumers and businesses in Japan.

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