PayPay (NASDAQ:PAYP) Trading Down 8% – Should You Sell?

PayPay Corporation (NASDAQ:PAYP) shares were down 8% during trading on Wednesday . The stock traded as low as $17.04 and last traded at $17.20. Approximately 706,138 shares changed hands during trading, a decline of 59% from the average daily volume of 1,717,219 shares. The stock had previously closed at $18.70.

Analyst Ratings Changes

Several research analysts have commented on PAYP shares. Benchmark started coverage on PayPay in a research report on Monday, April 6th. They set a “buy” rating and a $31.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on PayPay in a research report on Monday, April 6th. They set a “hold” rating and a $20.00 price target on the stock. Wolfe Research initiated coverage on shares of PayPay in a research note on Monday, April 6th. They issued an “outperform” rating and a $26.00 price objective on the stock. Bank of America initiated coverage on shares of PayPay in a research note on Monday, April 6th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Mizuho initiated coverage on shares of PayPay in a research note on Monday, April 6th. They issued an “outperform” rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, PayPay has a consensus rating of “Moderate Buy” and an average price target of $25.73.

PayPay Stock Down 11.4%

The firm’s fifty day moving average is $20.51.

PayPay (NASDAQ:PAYP) last released its earnings results on Wednesday, May 6th. The fintech company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $644.33 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.