PayPay (NASDAQ:PAYP) Issues Quarterly Earnings Results

PayPay (NASDAQ:PAYP) posted its quarterly earnings data on Tuesday. The fintech company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03), FiscalAI reports. The business had revenue of $749.66 million during the quarter.

PayPay Trading Up 1.9%

Shares of NASDAQ PAYP opened at $14.71 on Wednesday. The firm has a 50-day moving average price of $15.92 and a 200 day moving average price of $17.07. PayPay has a 52 week low of $12.07 and a 52 week high of $24.89.

Institutional Trading of PayPay

Several institutional investors have recently made changes to their positions in PAYP. Robeco Institutional Asset Management B.V. lifted its position in PayPay by 55.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 155,000 shares of the fintech company’s stock worth $2,434,000 after acquiring an additional 55,000 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in PayPay in the second quarter worth about $1,791,000. NWF Advisory Services Inc. acquired a new position in PayPay in the second quarter worth approximately $211,000. Finally, Center for Financial Planning Inc. purchased a new stake in shares of PayPay in the 3rd quarter valued at approximately $103,000.

Analysts Set New Price Targets

PAYP has been the topic of a number of recent research reports. Mizuho dropped their target price on PayPay from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings downgraded PayPay from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Morgan Stanley upgraded shares of PayPay from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $24.00 to $23.00 in a research report on Thursday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of PayPay in a research report on Monday, October 26th. Finally, Citigroup dropped their price objective on shares of PayPay from $23.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. 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 given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.45.

PayPay Company Profile

PayPay is a Japan-based financial technology company that operates a digital payments and financial services platform. Its core offering is a mobile wallet that enables consumers to make cashless payments at participating retailers, restaurants, online merchants and service providers using smartphones and QR codes.

The company’s platform also supports person-to-person money transfers, bill payments, loyalty and rewards programs, and related digital financial services. PayPay has expanded its ecosystem through integrations with merchants and other businesses, helping facilitate electronic payments for consumers and companies across Japan.

PayPay was launched in 2018 and was established through a partnership involving SoftBank and the corporate group now known as LY Corporation.