PayPay (NASDAQ:PAYP) Shares Up 8.8% After Strong Earnings

Shares of PayPay Corporation (NASDAQ:PAYP) were up 8.8% during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $16.57 and last traded at $16.4650. 287,227 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,517,730 shares. The stock had previously closed at $15.13.

The fintech company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $675.02 million during the quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Zacks Research raised shares of PayPay to a “hold” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. initiated coverage on shares of PayPay in a research report on Wednesday, April 8th. They set an “overweight” rating and a $25.00 price target on the stock. Wolfe Research initiated coverage on shares of PayPay in a research report on Monday, April 6th. They issued an “outperform” rating and a $26.00 price objective for the company. Mizuho initiated coverage on shares of PayPay in a research note on Monday, April 6th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of PayPay in a report on Monday, April 6th. They issued a “hold” rating and a $20.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.64.

PayPay Trading Up 8.9%

The stock has a market capitalization of $11.15 billion and a price-to-earnings ratio of 126.19. The stock has a 50-day moving average price of $15.44.

PayPay Company Profile

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.