PayPay Corporation’s (NASDAQ:PAYP) Lock-Up Period To End on September 8th

PayPay’s (NASDAQ:PAYP) lock-up period will end on Tuesday, September 8th. PayPay had issued 54,987,214 shares in its initial public offering on March 12th. The total size of the offering was $879,795,424 based on an initial share price of $16.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PAYP shares. Citigroup reduced their price target on PayPay from $23.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Weiss Ratings lowered PayPay from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Mizuho decreased their price target on PayPay from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 4th. Zacks Research raised shares of PayPay to a “hold” rating in a report on Thursday, June 11th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of PayPay 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 issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.45.

PayPay Trading Up 0.6%

PayPay stock opened at $17.04 on Friday. PayPay has a fifty-two week low of $12.07 and a fifty-two week high of $24.89. The company has a market capitalization of $11.54 billion and a PE ratio of 56.80. The stock has a fifty day moving average price of $15.33.

PayPay (NASDAQ:PAYP) last announced its earnings results on Thursday, July 30th. The fintech company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $675.02 million during the quarter. As a group, equities research analysts forecast 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. NWF Advisory Services Inc. acquired a new stake in shares of PayPay Corporation (NASDAQ:PAYP) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,700 shares of the fintech company’s stock, valued at approximately $211,000.

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.