PayPay (NASDAQ:PAYP) Trading Up 6.3% – Still a Buy?

Shares of PayPay Corporation (NASDAQ:PAYP) rose 6.3% on Thursday . The company traded as high as $16.67 and last traded at $16.7160. 166,111 shares changed hands during trading, a decline of 88% from the average session volume of 1,362,369 shares. The stock had previously closed at $15.73.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of PayPay from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Morgan Stanley raised shares of PayPay from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $24.00 to $23.00 in a research report on Thursday, July 23rd. Zacks Research upgraded PayPay to a “hold” rating in a report on Thursday, June 11th. Wolfe Research raised their price objective on PayPay from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Finally, Mizuho decreased their target price on PayPay from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.45.

PayPay Stock Performance

The company’s 50 day moving average is $15.33. The stock has a market cap of $11.54 billion and a P/E ratio of 56.80.

PayPay (NASDAQ:PAYP) last announced its earnings results on Thursday, July 30th. The fintech company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The firm had revenue of $675.02 million during the quarter. On average, equities research analysts predict that PayPay Corporation will post 0.8 earnings per share for the current year.

Institutional Trading of PayPay

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

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.