PayPay (NASDAQ:PAYP) Stock Gets Price Target Trim from Cantor Fitzgerald

PayPay (NASDAQ:PAYP) had its target price trimmed by Cantor Fitzgerald from $25.00 to $21.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the fintech company’s stock.

Several other equities research analysts also recently issued reports on PAYP. Citigroup cut their price objective on shares of PayPay from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, November 5th. Wolfe Research upped their target price on PayPay from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Mizuho lowered their target price on PayPay from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. Morgan Stanley raised 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 report on Thursday, July 23rd. Finally, Weiss Ratings cut PayPay from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

PayPay Price Performance

Shares of PAYP opened at $14.92 on Monday. The company’s 50-day moving average is $15.89 and its 200-day moving average is $17.00. PayPay has a fifty-two week low of $12.07 and a fifty-two week high of $24.89.

PayPay (NASDAQ:PAYP) last announced its earnings results on Tuesday, November 3rd. The fintech company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). PayPay had a return on equity of 16.34% and a net margin of 15.75%. The company had revenue of $749.66 million for the quarter. As a group, equities research analysts anticipate that PayPay will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On PayPay

A number of hedge funds have recently bought and sold shares of PAYP. Alphabet Inc. acquired a new stake in PayPay in the 3rd quarter worth about $49,062,000. BlueCrest Capital Management Ltd acquired a new position in shares of PayPay during the 2nd quarter worth approximately $1,791,000. Robeco Institutional Asset Management B.V. increased its holdings 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 purchasing an additional 55,000 shares during the period. NWF Advisory Services Inc. bought a new position in shares of PayPay during the second quarter worth approximately $211,000. Finally, Center for Financial Planning Inc. acquired a new stake in shares of PayPay in the third quarter valued at approximately $103,000.

PayPay Company Profile

PayPay is a Japan-based digital payments and financial services company best known for its mobile payment app. Launched in 2018 through a partnership between SoftBank and Yahoo Japan, the service supports cashless transactions at participating merchants across Japan. Through its app, users can make in-store and online payments using QR codes or barcodes, send money to other users, and access related financial services. PayPay also provides payment tools for merchants, including options for accepting digital payments.