PayPay (NASDAQ:PAYP) Stock Price Up 4.6% – Here’s What Happened

PayPay Corporation (NASDAQ:PAYP)’s share price rose 4.6% during trading on Thursday . The company traded as high as $18.63 and last traded at $18.3870. Approximately 312,026 shares changed hands during trading, a decline of 77% from the average daily volume of 1,362,955 shares. The stock had previously closed at $17.58.

Wall Street Analysts Forecast Growth

PAYP has been the topic of several research analyst reports. Morgan Stanley upgraded PayPay from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $24.00 to $23.00 in a research note on Thursday, July 23rd. Weiss Ratings lowered PayPay from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Citigroup cut their price target on PayPay from $23.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. 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. Finally, Mizuho cut their target price on shares of PayPay from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.45.

PayPay Stock Up 1.2%

The business’s 50 day simple moving average is $15.65. The stock has a market cap of $12.49 billion and a price-to-earnings ratio of 61.50.

PayPay (NASDAQ:PAYP) last posted its earnings results on Thursday, July 30th. The fintech company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $675.02 million for the quarter. Equities analysts anticipate that PayPay Corporation will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of PayPay

An institutional investor recently bought a new position in PayPay stock. NWF Advisory Services Inc. bought a new position in shares of PayPay Corporation (NASDAQ:PAYP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,700 shares of the fintech company’s stock, valued at approximately $211,000.

PayPay Company Profile

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 by scanning QR codes or presenting payment codes through a smartphone application.

In addition to in-store payments, PayPay offers online checkout and peer-to-peer money transfers. Its broader ecosystem includes related financial services such as PayPay Card, consumer credit and lending products, investment services, and other digital financial tools, with availability depending on the product and applicable regulations.

PayPay primarily serves consumers and businesses in Japan.