PayPay (NASDAQ:PAYP) Trading Up 9.6% – Here’s Why

PayPay Corporation (NASDAQ:PAYP) shares shot up 9.6% during trading on Monday . The stock traded as high as $13.63 and last traded at $13.5550. 1,524,882 shares traded hands during trading, a decline of 11% from the average daily volume of 1,717,425 shares. The stock had previously closed at $12.37.

Analyst Ratings Changes

PAYP has been the topic of a number of research analyst reports. Mizuho started coverage on PayPay in a report on Monday, April 6th. They issued an “outperform” rating and a $26.00 target price on the stock. The Goldman Sachs Group assumed coverage on PayPay in a research report on Tuesday, April 7th. They set a “buy” rating and a $29.00 price objective for the company. Benchmark started coverage on PayPay in a research note on Monday, April 6th. They issued a “buy” rating and a $31.00 price objective on the stock. Citigroup initiated coverage on PayPay in a research report on Monday, April 6th. They issued a “neutral” rating and a $23.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on PayPay in a research note on Monday, April 6th. They set a “hold” rating and a $20.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.73.

PayPay Trading Up 11.4%

The company has a market capitalization of $9.21 billion and a price-to-earnings ratio of 105.35. The business’s 50 day moving average is $18.56.

PayPay (NASDAQ:PAYP) last posted its earnings results on Wednesday, May 6th. The fintech company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $644.33 million for the quarter.

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.