PayPay Corporation’s Lock-Up Period Will Expire Tomorrow (NASDAQ:PAYP)

PayPay’s (NASDAQ:PAYP) lock-up period is set to end on Tuesday, September 8th. PayPay had issued 54,987,214 shares in its public offering on March 12th. The total size of the offering was $879,795,424 based on an initial share price of $16.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of PayPay in a research note on Tuesday, August 4th. Mizuho reduced their price objective on shares of PayPay from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 4th. Wolfe Research raised their target price on shares of PayPay from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Morgan Stanley upgraded shares of PayPay from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $24.00 to $23.00 in a report on Thursday, July 23rd. Finally, Zacks Research upgraded shares of PayPay to a “hold” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PayPay has a consensus rating of “Moderate Buy” and an average target price of $24.45.

PayPay Price Performance

NASDAQ:PAYP opened at $17.04 on Monday. The firm has a market capitalization of $11.54 billion and a price-to-earnings ratio of 56.80. PayPay has a 1-year low of $12.07 and a 1-year high of $24.89. The company’s fifty day simple moving average is $15.33.

PayPay (NASDAQ:PAYP) last announced its quarterly earnings data 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 for the quarter. As a group, sell-side analysts anticipate that PayPay will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On PayPay

An institutional investor recently bought a new stake in PayPay stock. NWF Advisory Services Inc. purchased a new position in PayPay Corporation (NASDAQ:PAYP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,700 shares of the fintech company’s stock, valued at approximately $211,000.

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.