Analysts Set PayPay Corporation (NASDAQ:PAYP) Target Price at $24.45

Shares of PayPay Corporation (NASDAQ:PAYP) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $24.4545.

A number of brokerages recently issued reports on PAYP. Citigroup dropped their price objective on shares of PayPay from $23.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Zacks Research raised shares of PayPay to a “hold” rating in a research note on Thursday, June 11th. Wolfe Research lifted their target price on shares of PayPay from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. Cantor Fitzgerald reissued an “overweight” rating on shares of PayPay in a research report on Tuesday, August 4th. Finally, Morgan Stanley raised PayPay from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $24.00 to $23.00 in a research report on Thursday, July 23rd.

PayPay Stock Up 0.1%

NASDAQ PAYP opened at $17.58 on Thursday. The company has a market capitalization of $11.90 billion and a price-to-earnings ratio of 58.60. The company’s 50 day moving average price is $15.51. PayPay has a twelve month low of $12.07 and a twelve month high of $24.89.

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

Hedge Funds Weigh In On PayPay

A hedge fund recently bought a new stake in PayPay stock. BlueCrest Capital Management Ltd purchased a new position in PayPay Corporation (NASDAQ:PAYP) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 125,000 shares of the fintech company’s stock, valued at approximately $1,791,000.

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.