Nayax (NASDAQ:NYAX – Get Free Report) was upgraded by investment analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Friday,Benzinga reports. The firm currently has a $75.00 price target on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 40.21% from the company’s current price.
Several other brokerages also recently issued reports on NYAX. Barclays lowered their price objective on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday. UBS Group reiterated a “neutral” rating and set a $70.00 target price on shares of Nayax in a research note on Tuesday. Weiss Ratings upgraded Nayax from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday. Jefferies Financial Group reissued a “buy” rating and issued a $79.80 target price on shares of Nayax in a report on Thursday, May 14th. Finally, Wall Street Zen lowered shares of Nayax from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.76.
Read Our Latest Research Report on NYAX
Nayax Stock Up 7.2%
Nayax (NASDAQ:NYAX – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $122.59 million during the quarter, compared to the consensus estimate of $116.75 million. Nayax had a return on equity of 14.98% and a net margin of 1.74%. Equities research analysts forecast that Nayax will post 0.75 earnings per share for the current year.
Insider Activity
In other news, CFO Sagit Manor sold 1,252 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $66.74, for a total transaction of $83,558.48. Following the sale, the chief financial officer owned 45,238 shares of the company’s stock, valued at $3,019,184.12. The trade was a 2.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Oren Tepper sold 1,052 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $73.31, for a total value of $77,122.12. Following the completion of the transaction, the insider directly owned 19,392 shares of the company’s stock, valued at $1,421,627.52. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 42,610 shares of company stock valued at $3,159,903 in the last quarter.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after acquiring an additional 1,353 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Nayax by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after buying an additional 89,886 shares during the last quarter. Geode Capital Management LLC grew its holdings in Nayax by 19.7% during the 2nd quarter. Geode Capital Management LLC now owns 33,511 shares of the company’s stock valued at $1,685,000 after buying an additional 5,523 shares during the last quarter. Legal & General Group Plc increased its position in Nayax by 18.6% during the second quarter. Legal & General Group Plc now owns 14,087 shares of the company’s stock worth $711,000 after buying an additional 2,214 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Nayax by 210.5% in the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 34.87% of the company’s stock.
About Nayax
Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.
The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.
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