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

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PAYP. Wall Street Zen upgraded shares of PayPay to a “hold” rating in a report on Saturday, March 21st. Morgan Stanley began coverage on shares of PayPay in a report on Monday, April 6th. They issued an “equal weight” rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of PayPay in a report on Wednesday, April 8th. They issued an “overweight” rating and a $25.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of PayPay in a report on Monday, April 6th. They issued a “hold” rating and a $20.00 price objective on the stock. Finally, Citigroup initiated coverage on PayPay in a research report on Monday, April 6th. They set a “neutral” rating and a $23.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.73.

PayPay Stock Down 11.4%

The company has a 50-day moving average price of $20.51.

PayPay (NASDAQ:PAYP) last announced its quarterly earnings results on Wednesday, May 6th. The fintech company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The company 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.