PayPay (NASDAQ:PAYP) Stock Price Down 6.1% – Time to Sell?

PayPay Corporation (NASDAQ:PAYP) shares traded down 6.1% during mid-day trading on Wednesday . The stock traded as low as $14.87 and last traded at $14.8650. Approximately 173,952 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,656,847 shares. The stock had previously closed at $15.83.

Wall Street Analysts Forecast Growth

PAYP has been the subject of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of PayPay in a research note on Monday, April 6th. They issued an “overweight” rating and a $25.00 price objective for the company. Wall Street Zen upgraded shares of PayPay to a “hold” rating in a report on Saturday, March 21st. Wolfe Research began coverage on shares of PayPay in a research note on Monday, April 6th. They issued an “outperform” rating and a $26.00 price target for the company. The Goldman Sachs Group began coverage on shares of PayPay in a report on Tuesday, April 7th. They set a “buy” rating and a $29.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on PayPay in a research note on Monday, April 6th. They issued a “hold” rating and a $20.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.73.

PayPay Stock Down 6.1%

The firm has a fifty day simple moving average of $17.07. The stock has a market cap of $9.94 billion and a P/E ratio of 114.35.

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

About PayPay

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.