PayPay (NASDAQ:PAYP) Hits New 52-Week Low – Time to Sell?

PayPay Corporation (NASDAQ:PAYP)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $12.95 and last traded at $13.02, with a volume of 1008118 shares traded. The stock had previously closed at $13.38.

Analysts Set New Price Targets

Several research firms have recently weighed in on PAYP. Cantor Fitzgerald began coverage on PayPay in a research note on Monday, April 6th. They issued an “overweight” rating and a $25.00 price objective on the stock. Bank of America began coverage on shares of PayPay in a research report on Monday, April 6th. They set a “buy” rating and a $26.00 target price for the company. Weiss Ratings started coverage on shares of PayPay in a research report on Wednesday, June 3rd. They set a “sell (d+)” rating on the stock. Morgan Stanley started coverage on shares of PayPay in a research note on Monday, April 6th. They set an “equal weight” rating and a $24.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of PayPay in a research note on Monday, April 6th. They issued a “buy” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, PayPay currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.73.

PayPay Price Performance

The firm has a 50-day moving average price of $18.99.

PayPay (NASDAQ:PAYP) last announced its earnings results on Wednesday, May 6th. The fintech company reported $0.13 EPS for the quarter, beating 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.