PayPay Corporation (NASDAQ:PAYP) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of PayPay Corporation (NASDAQ:PAYP) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $24.45.

Several analysts have recently weighed in on PAYP shares. Wolfe Research boosted their target price on PayPay from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. Morgan Stanley upgraded PayPay from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $24.00 to $23.00 in a research note on Thursday, July 23rd. Mizuho cut their price target on PayPay from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 4th. Citigroup cut their target price on shares of PayPay from $23.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of PayPay in a research report on Tuesday, August 4th.

PayPay Trading Down 0.9%

Shares of NASDAQ:PAYP opened at $15.21 on Friday. The firm has a 50 day simple moving average of $16.04 and a 200-day simple moving average of $16.76. PayPay has a twelve month low of $12.07 and a twelve month high of $24.89. The company has a market capitalization of $10.30 billion and a PE ratio of 50.70.

PayPay (NASDAQ:PAYP) last released its quarterly earnings data on Thursday, July 30th. The fintech company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $675.02 million during the quarter. As a group, equities research analysts predict that PayPay will post 0.80 EPS for the current fiscal year.

Institutional Investors Weigh In On PayPay

Institutional investors and hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. boosted its stake in shares of PayPay by 55.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 155,000 shares of the fintech company’s stock worth $2,434,000 after buying an additional 55,000 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in PayPay in the 2nd quarter valued at approximately $1,791,000. Finally, NWF Advisory Services Inc. purchased a new stake in PayPay in the 2nd quarter valued at approximately $211,000.

About PayPay

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.