PayPay Corporation (NASDAQ:PAYP) Receives Average Recommendation of “Moderate Buy” from Brokerages

PayPay Corporation (NASDAQ:PAYP) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $24.45.

A number of analysts have issued reports on PAYP shares. Morgan Stanley raised PayPay from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $24.00 to $23.00 in a research note on Thursday, July 23rd. Zacks Research raised shares of PayPay to a “hold” rating in a report on Thursday, June 11th. Weiss Ratings cut shares of PayPay from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PayPay in a research note on Tuesday, August 4th. Finally, 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.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in PayPay stock. BlueCrest Capital Management Ltd purchased a new position in PayPay Corporation (NASDAQ:PAYP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 125,000 shares of the fintech company’s stock, valued at approximately $1,791,000.

PayPay Stock Performance

Shares of PAYP stock opened at $14.92 on Monday. The stock has a fifty day simple moving average of $16.05 and a two-hundred day simple moving average of $17.38. The firm has a market capitalization of $10.10 billion and a PE ratio of 49.73. PayPay has a 52-week low of $12.07 and a 52-week high of $24.89.

PayPay (NASDAQ:PAYP) last posted its quarterly earnings results 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 during the quarter. On average, sell-side analysts forecast that PayPay will post 0.8 EPS for the current fiscal year.

About PayPay

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.