Nayax (NASDAQ:NYAX) Shares Gap Up – What’s Next?

Nayax Ltd. (NASDAQ:NYAXGet Free Report)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $49.88, but opened at $52.61. Nayax shares last traded at $53.0760, with a volume of 8,114 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NYAX. Wall Street Zen lowered shares of Nayax from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Jefferies Financial Group restated a “buy” rating and issued a $79.80 price objective on shares of Nayax in a report on Thursday, May 14th. Oppenheimer raised Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research report on Wednesday, May 27th. Zacks Research upgraded Nayax from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nayax currently has a consensus rating of “Hold” and a consensus price target of $75.76.

Read Our Latest Research Report on NYAX

Nayax Stock Down 5.4%

The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.88 and a current ratio of 2.12. The stock’s 50-day moving average price is $65.36 and its two-hundred day moving average price is $62.70. The stock has a market capitalization of $1.85 billion, a PE ratio of 240.95 and a beta of 0.47.

Nayax (NASDAQ:NYAXGet Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $122.59 million during the quarter, compared to analysts’ expectations of $116.75 million. Nayax had a net margin of 1.74% and a return on equity of 13.23%. As a group, analysts expect that Nayax Ltd. will post 0.75 EPS for the current fiscal year.

Insider Activity

In related news, CEO Carly Lisanne Furman sold 1,753 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $73.31, for a total value of $128,512.43. Following the sale, the chief executive officer owned 21,821 shares in the company, valued at $1,599,697.51. This represents a 7.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction, the insider directly owned 19,392 shares of the company’s stock, valued at approximately $1,421,627.52. This trade represents a 5.15% decrease in their position. 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. In the last ninety days, insiders sold 42,610 shares of company stock valued at $3,159,903.

Institutional Investors Weigh In On Nayax

Several hedge funds have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd increased its holdings in shares of Nayax by 3.1% during the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock valued at $48,387,000 after acquiring an additional 25,694 shares in the last quarter. Vanguard Group Inc. boosted its stake in Nayax by 4,022.5% in the 3rd quarter. Vanguard Group Inc. now owns 548,788 shares of the company’s stock worth $26,210,000 after purchasing an additional 535,476 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Nayax by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock worth $9,966,000 after purchasing an additional 89,886 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Nayax by 36.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock valued at $15,195,000 after purchasing an additional 72,357 shares during the last quarter. Finally, AltraVue Capital LLC purchased a new stake in Nayax during the 4th quarter valued at about $11,623,000. 34.87% of the stock is owned by institutional investors.

Nayax Company Profile

(Get Free Report)

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.

Further Reading

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