Brokerages launch coverage on PayPay after research quiet period ends

PayPay

06/04/2026 17:26

** Brokerages initiate coverage on Japanese payments app PayPay PAYP.O as research quiet period ends

** Jefferies initiates with a "buy" rating, saying, "our bullish view is driven by PayPay’s unmatched leadership in Japan’s fast-growing cashless payments market, its massive user base and expanding ecosystem"

** Adds, the Japanese Government is encouraging the use of cashless transactions by increasing coupons and point rewards at the municipal level and linking ID cards to payments

** Analysts at Benchmark say, "PAYP sits at the intersection of three powerful secular tailwinds – cashless adoption, embedded finance, and platform monetization"

** PAYP secured a valuation of $12.7 billion in its Nasdaq debut after shares opened at $19, compared with the $16 offer price

** Deutsche Bank starts coverage with "hold" rating "due to PAYP’s premium valuation relative to other high-growth fintech peers, execution risk associated with the company’s crucial, but early-stage, cross-selling strategy into financial services"

** As of last close, stock up 31.4% since its debut on March 12

Brokerage
Rating
PT
Deutsche Bank
Hold
$20
Mizuho
Outperform
$26
Benchmark
Buy
$31
Jefferies
Buy
$28

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com;))