PayPay (NASDAQ:PAYP) Shares Up 8.8% Following Better-Than-Expected Earnings

Shares of PayPay Corporation (NASDAQ:PAYP) rose 8.8% during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $16.57 and last traded at $16.4650. Approximately 287,227 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,517,730 shares. The stock had previously closed at $15.13.

The fintech company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $675.02 million for the quarter.

Analyst Ratings Changes

Several brokerages have recently issued reports on PAYP. Cantor Fitzgerald initiated coverage on shares of PayPay in a research note on Monday, April 6th. They issued an “overweight” rating and a $25.00 target price on the stock. Wolfe Research started coverage on shares of PayPay in a report on Monday, April 6th. They issued an “outperform” rating and a $26.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of PayPay in a research note on Tuesday, April 7th. They issued a “buy” rating and a $29.00 price objective on the stock. Benchmark assumed coverage on shares of PayPay in a research report on Monday, April 6th. They set a “buy” rating and a $31.00 target price for the company. Finally, JPMorgan Chase & Co. began coverage on PayPay in a report on Wednesday, April 8th. They issued an “overweight” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.64.

PayPay Stock Up 8.9%

The company has a market capitalization of $11.15 billion and a price-to-earnings ratio of 126.19. The business’s 50-day simple moving average is $15.44.

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.