Zacks Research Upgrades Nayax (NASDAQ:NYAX) to “Hold”

Nayax (NASDAQ:NYAX) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also commented on NYAX. UBS Group increased their price target on Nayax from $43.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Wall Street Zen cut Nayax from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Nayax in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Nayax from $47.00 to $52.00 and gave the stock a “market perform” rating in a research report on Friday, January 2nd. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $49.00.

Nayax Stock Performance

NYAX opened at $57.94 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.62 and a current ratio of 1.71. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 90.53 and a beta of 0.14. The company has a fifty day moving average of $48.31 and a 200 day moving average of $46.72. Nayax has a fifty-two week low of $32.38 and a fifty-two week high of $59.89.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.12). The company had revenue of $104.28 million during the quarter, compared to analysts’ expectations of $109.51 million. Nayax had a return on equity of 6.51% and a net margin of 6.49%. As a group, sell-side analysts forecast that Nayax will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of Nayax

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in Nayax by 210.5% during the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the period. Osaic Holdings Inc. bought a new stake in shares of Nayax in the 2nd quarter worth about $33,000. Bank of America Corp DE lifted its holdings in shares of Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after acquiring an additional 1,353 shares during the last quarter. Alliancebernstein L.P. purchased a new position in shares of Nayax during the 3rd quarter worth about $128,000. Finally, Ascent Group LLC bought a new position in Nayax during the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Nayax Company Profile

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.