PayPay Corporation (NASDAQ:PAYP) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

PayPay Corporation (NASDAQ:PAYP) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.45.

A number of equities research analysts have recently issued reports on the company. Mizuho lowered their target price on PayPay from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 4th. Weiss Ratings lowered PayPay from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Citigroup decreased their price target on PayPay from $23.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Wolfe Research increased their price objective on shares of PayPay from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Finally, Zacks Research upgraded shares of PayPay to a “hold” rating in a research note on Thursday, June 11th.

PayPay Stock Performance

Shares of PayPay stock opened at $14.92 on Monday. The company has a fifty day moving average price of $16.05 and a 200 day moving average price of $17.36. PayPay has a twelve month low of $12.07 and a twelve month high of $24.89. The stock has a market cap of $10.10 billion and a price-to-earnings ratio of 49.73.

PayPay (NASDAQ:PAYP) last released its quarterly earnings data on Thursday, July 30th. The fintech company reported $0.17 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. Analysts forecast that PayPay will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On PayPay

A hedge fund recently bought a new stake in PayPay stock. BlueCrest Capital Management Ltd acquired a new position in PayPay Corporation (NASDAQ:PAYP) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 125,000 shares of the fintech company’s stock, valued at approximately $1,791,000.

PayPay Company Profile

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.