PayPay (NASDAQ:PAYP) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

PayPay (NASDAQ:PAYP) released its quarterly earnings data on Tuesday. The fintech company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03), FiscalAI reports. PayPay had a net margin of 15.75% and a return on equity of 16.86%. The business had revenue of $749.66 million during the quarter.

PayPay Stock Performance

Shares of PAYP opened at $15.47 on Thursday. PayPay has a 52-week low of $12.07 and a 52-week high of $24.89. The firm has a market cap of $10.48 billion and a price-to-earnings ratio of 51.90. The business’s fifty day moving average is $15.92 and its 200-day moving average is $17.06.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley upgraded shares of PayPay from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $24.00 to $23.00 in a report on Thursday, July 23rd. Mizuho decreased their target price on PayPay from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. Citigroup dropped their price objective on PayPay from $23.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Wolfe Research lifted their target price on PayPay from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. Finally, Weiss Ratings lowered shares of PayPay from a “hold (c-)” rating to a “sell (d+)” rating in a research note 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.45.

Institutional Investors Weigh In On PayPay

Institutional investors and hedge funds have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. lifted its stake in PayPay by 55.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 155,000 shares of the fintech company’s stock valued at $2,434,000 after purchasing an additional 55,000 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of PayPay in the 2nd quarter valued at about $1,791,000. NWF Advisory Services Inc. purchased a new position in shares of PayPay in the second quarter worth $211,000. Finally, Center for Financial Planning Inc. bought a new position in PayPay during the 3rd quarter valued at approximately $103,000.

About PayPay

PayPay is a Japan-based financial technology company that operates a digital payments and financial services platform. Its core offering is a mobile wallet that enables consumers to make cashless payments at participating retailers, restaurants, online merchants and service providers using smartphones and QR codes.

The company’s platform also supports person-to-person money transfers, bill payments, loyalty and rewards programs, and related digital financial services. PayPay has expanded its ecosystem through integrations with merchants and other businesses, helping facilitate electronic payments for consumers and companies across Japan.

PayPay was launched in 2018 and was established through a partnership involving SoftBank and the corporate group now known as LY Corporation.