PayPay Corporation’s Quiet Period To Expire on April 21st (NASDAQ:PAYP)

PayPay’s (NASDAQ:PAYP) quiet period will expire on Tuesday, April 21st. PayPay had issued 54,987,214 shares in its IPO on March 12th. The total size of the offering was $879,795,424 based on an initial share price of $16.00. During PayPay’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

PAYP has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on PayPay in a research report on Monday, April 6th. They issued a “buy” rating and a $28.00 price objective for the company. Wall Street Zen raised PayPay to a “hold” rating in a research report on Saturday, March 21st. Citigroup initiated coverage on PayPay in a research report on Monday, April 6th. They issued a “neutral” rating and a $23.00 price objective for the company. Mizuho initiated coverage on PayPay in a research report on Monday, April 6th. They issued an “outperform” rating and a $26.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on PayPay in a research 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, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, PayPay presently has an average rating of “Moderate Buy” and a consensus target price of $25.73.

PayPay Stock Up 2.0%

Shares of PayPay stock opened at $20.50 on Tuesday. PayPay has a twelve month low of $17.00 and a twelve month high of $24.89.

PayPay (NASDAQ:PAYP) last issued its earnings results on Thursday, February 12th. The fintech company reported $0.18 earnings per share for the quarter. The firm had revenue of $636.46 million during 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.