PayPay (NASDAQ:PAYP) Shares Up 9.6% – Still a Buy?

PayPay Corporation (NASDAQ:PAYP)’s share price shot up 9.6% on Monday . The stock traded as high as $13.63 and last traded at $13.5550. 1,524,882 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 1,717,425 shares. The stock had previously closed at $12.37.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup started coverage on shares of PayPay in a research report on Monday, April 6th. They set a “neutral” rating and a $23.00 target price on the stock. Zacks Research upgraded shares of PayPay to a “hold” rating in a research report on Thursday, June 11th. Bank of America initiated coverage on PayPay in a research note on Monday, April 6th. They issued a “buy” rating and a $26.00 price target for the company. Mizuho assumed coverage on PayPay in a research report on Monday, April 6th. They set an “outperform” rating and a $26.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on PayPay in a research note on Monday, April 6th. They set a “hold” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.73.

PayPay Trading Up 11.4%

The stock has a 50-day moving average price of $18.56. The stock has a market capitalization of $9.21 billion and a price-to-earnings ratio of 105.35.

PayPay (NASDAQ:PAYP) last announced its quarterly earnings data on Wednesday, May 6th. The fintech company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $644.33 million for the quarter.

About PayPay

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.