Nayax (NASDAQ:NYAX) Stock Gets Price Target Trim from Barclays

Nayax (NASDAQ:NYAX) had its price target reduced by Barclays from $68.00 to $60.00 in a research note released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. Weiss Ratings cut Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. Keefe, Bruyette & Woods raised Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Friday, August 14th. UBS Group reduced their price objective on Nayax from $70.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group began coverage on Nayax in a research note on Wednesday, October 7th. They set a “buy” rating and a $68.30 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Nayax has an average rating of “Moderate Buy” and a consensus target price of $71.06.

Nayax Stock Down 2.2%

NASDAQ:NYAX traded down $1.13 during mid-day trading on Thursday, hitting $51.05. 32,442 shares of the company’s stock were exchanged, compared to its average volume of 24,650. Nayax has a one year low of $39.17 and a one year high of $76.86. 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 business has a fifty day moving average price of $47.36 and a 200 day moving average price of $58.01. The company has a market cap of $1.87 billion, a PE ratio of 567.22 and a beta of 0.46.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings data on Wednesday, November 11th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.19. Nayax had a net margin of 0.68% and a return on equity of 14.59%. The business had revenue of $128.04 million for the quarter, compared to analysts’ expectations of $134.35 million. Equities analysts predict that Nayax will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Yair Nechmad purchased 104,511 shares of the business’s stock in a transaction dated Thursday, September 24th. The shares were purchased at an average price of $44.09 per share, for a total transaction of $4,607,889.99. Following the completion of the acquisition, the chief executive officer directly owned 7,433,558 shares in the company, valued at $327,745,572.22. This represents a 1.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Ben-Avi purchased 1,554 shares of Nayax stock in a transaction that occurred on Tuesday, September 22nd. The shares were purchased at an average cost of $43.18 per share, with a total value of $67,101.72. Following the transaction, the insider directly owned 6,591,702 shares of the company’s stock, valued at $284,629,692.36. This represents a 0.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 198,962 shares of company stock valued at $8,972,432 and sold 3,141 shares valued at $145,536.

Institutional Trading of Nayax

Several institutional investors have recently added to or reduced their stakes in NYAX. Altshuler Shaham Ltd grew its position in 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 buying an additional 1,731 shares during the period. Public Employees Retirement System of Ohio bought a new position in Nayax in the 2nd quarter worth $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 buying an additional 8,727 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Nayax in the second quarter worth about $650,000. 34.87% of the stock is currently owned by hedge funds and other institutional investors.

Key Nayax News

Investors following NYAX have been watching these news items:

• Positive Sentiment: Nayax reported Q3 EPS of $0.34, above the $0.15 consensus estimate. Shares were reported to have gapped up after the results, suggesting the earnings beat supported investor sentiment. Nayax Shares Gap Up on Earnings Beat
• Neutral Sentiment: Revenue was $128.04 million, below the $134.35 million consensus, tempering the EPS beat. Analysts also noted that Nayax’s cash-flow outlook is difficult to assess. Nayax Stock Looks Hard To Call On Cash Flow
• Negative Sentiment: Barclays cut its price target to $60 from $68 and kept an Equal Weight rating; UBS lowered its target to $66 from $70 and maintained Neutral. The reductions signal more cautious expectations, although both targets remain above the $51.05 reference price. Barclays rating and target UBS target adjustment

Nayax Company Profile

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.