Citigroup Cuts PayPay (NASDAQ:PAYP) Price Target to $18.00

PayPay (NASDAQ:PAYP) had its target price decreased by Citigroup from $23.00 to $18.00 in a report issued on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the fintech company’s stock.

PAYP has been the subject of a number of other reports. Mizuho assumed coverage on shares of PayPay in a research note on Monday, April 6th. They issued an “outperform” rating and a $26.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of PayPay in a report on Wednesday, April 8th. They issued an “overweight” rating and a $25.00 price target for the company. Weiss Ratings raised PayPay from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. Morgan Stanley upgraded PayPay from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $24.00 to $23.00 in a research report on Thursday, July 23rd. Finally, Benchmark started coverage on PayPay in a research note on Monday, April 6th. They issued a “buy” rating and a $31.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.91.

PayPay Trading Down 6.1%

PayPay stock opened at $15.67 on Monday. The firm has a market capitalization of $10.61 billion and a price-to-earnings ratio of 120.54. The business has a fifty day simple moving average of $15.25. PayPay has a 52 week low of $12.07 and a 52 week high of $24.89.

PayPay (NASDAQ:PAYP) last announced its earnings results on Friday, July 31st. The fintech company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $675.02 million during 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.