Citigroup Has Lowered Expectations for PayPay (NASDAQ:PAYP) Stock Price

PayPay (NASDAQ:PAYP) had its price objective lowered by investment analysts at Citigroup from $23.00 to $18.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the fintech company’s stock. Citigroup’s price objective suggests a potential upside of 10.23% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings raised shares of PayPay from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Morgan Stanley raised shares of PayPay from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $24.00 to $23.00 in a research report on Thursday, July 23rd. The Goldman Sachs Group initiated coverage on PayPay in a report on Tuesday, April 7th. They set a “buy” rating and a $29.00 target price for the company. Wolfe Research began coverage on PayPay in a research note on Monday, April 6th. They issued an “outperform” rating and a $26.00 price target on the stock. Finally, Cantor Fitzgerald started coverage on PayPay in a report on Monday, April 6th. They set an “overweight” rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.18.

PayPay Trading Up 7.9%

Shares of NASDAQ PAYP traded up $1.20 during mid-day trading on Monday, hitting $16.33. The company’s stock had a trading volume of 790,744 shares, compared to its average volume of 1,523,955. PayPay has a one year low of $12.07 and a one year high of $24.89. The company has a fifty day simple moving average of $15.44. The stock has a market capitalization of $11.05 billion and a PE ratio of 125.68.

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

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.