Deal Priced at High End of $16.00-$19.00 Range
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 29 2026
0mins
Should l Buy PICS?
The deal priced at the high-end of the $16.00-$19.00 range. Citi, BofA and RBC Capital acted as joint book running managers for the offering.
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Analyst Views on PICS
Wall Street analysts forecast PICS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PICS is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 15.730
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Current: 15.730
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About PICS
Picpay Holdings Netherlands BV is a Brazil-based company which engages in the digital financial services business sector. The Company delivers mobile and financial solutions through a comprehensive ecosystem serving consumers and businesses across Brazil and operates in three business segments. The Consumer Banking segment provides digital wallets, payments, credit products, insurance, and investment solutions designed to simplify personal financial management. The Small and Medium-Sized Businesses segment offers payment acquiring services, business accounts, credit options, and corporate benefits to support merchant operations and growth. The Audiences and Ecosystem Integration segment enhances engagement through digital commerce, travel and entertainment services, gamified experiences, and advertising solutions that connect brands with an active user base.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Fundraising Success: PicPay successfully raised $434 million by offering 22.9 million shares at $19 each, the upper end of the expected range, indicating strong market demand for its digital banking platform.
- Market Valuation: The pricing gives PicPay a market value of $2.5 billion, which is 9% higher than previously anticipated, reflecting investor confidence in the growth potential of Brazil's digital financial services sector.
- Market Performance: As the first Brazilian company to complete a US IPO since 2021, PicPay's listing signifies a recovery in the Brazilian stock market, particularly with the BOVESPA Index having risen 49% over the past year, highlighting renewed investor interest in emerging markets.
- User Base: As of September 30, 2025, PicPay boasts 42 million quarterly active consumers and approximately 812,000 active businesses, demonstrating its strong penetration and diverse offerings in Brazil's digital financial services market.
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