Nayax (NASDAQ:NYAX) Shares Gap Up After Strong Earnings

Nayax Ltd. (NASDAQ:NYAX) shares gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $48.84, but opened at $53.41. Nayax shares last traded at $52.6320, with a volume of 15,123 shares.

The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.15 by $0.19. The business had revenue of $128.04 million for the quarter, compared to the consensus estimate of $134.35 million. Nayax had a return on equity of 10.45% and a net margin of 1.74%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NYAX shares. Keefe, Bruyette & Woods raised Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Friday, August 14th. Weiss Ratings lowered Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 22nd. Jefferies Financial Group assumed coverage on Nayax in a report on Wednesday, October 7th. They issued a “buy” rating and a $68.30 price target for the company. UBS Group reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Nayax in a report on Tuesday, August 11th. Finally, Barclays reduced their price target 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, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Nayax has a consensus rating of “Moderate Buy” and a consensus target price of $73.46.

Insider Activity at Nayax

In other Nayax news, insider Gal Omer sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $45.17, for a total transaction of $67,755.00. Following the transaction, the insider owned 18,539 shares of the company’s stock, valued at approximately $837,406.63. This represents a 7.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Ben-Avi acquired 700 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was purchased at an average price of $43.07 per share, for a total transaction of $30,149.00. Following the completion of the transaction, the insider directly owned 6,592,402 shares in the company, valued at approximately $283,934,754.14. The trade was a 0.01% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 198,962 shares of company stock valued at $8,972,432 and sold 3,161 shares valued at $146,588.

Institutional Investors Weigh In On Nayax

Institutional investors and hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd lifted its stake in shares of Nayax by 5.0% during the first quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock valued at $2,026,000 after acquiring an additional 1,731 shares during the period. Public Employees Retirement System of Ohio bought a new position in Nayax in the second quarter valued at about $239,000. Bank of America Corp DE increased its position in Nayax by 1,607.2% in the first quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock worth $519,000 after purchasing an additional 8,727 shares during the period. Finally, Tidal Investments LLC acquired a new stake in Nayax in the second quarter worth about $650,000. Institutional investors own 34.87% of the company’s stock.

Nayax Stock Performance

The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 245.00 and a beta of 0.46. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.12 and a quick ratio of 2.03. The stock has a 50-day moving average of $47.44 and a 200 day moving average of $58.12.

About Nayax

Nayax Ltd. is a financial technology and commerce platform company focused on unattended and self-service retail. Its offerings combine cashless payment processing with business management and consumer-engagement tools. The company provides payment devices and software that support cashless transactions, remote monitoring, sales reporting and loyalty programs. Its solutions serve operators in markets such as vending, self-service laundries, micro markets and other unattended retail settings. Founded in 2005 and headquartered in Israel, Nayax serves merchants and operators in markets around the world.