Nayax (NASDAQ:NYAX) Hits New 1-Year High – Here’s Why

Nayax Ltd. (NASDAQ:NYAX)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $75.20 and last traded at $74.02, with a volume of 20201 shares. The stock had previously closed at $70.68.

Wall Street Analysts Forecast Growth

NYAX has been the subject of several analyst reports. Oppenheimer raised shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 target price for the company in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on shares of Nayax from $60.00 to $75.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. UBS Group increased their target price on shares of Nayax from $55.00 to $68.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Wall Street Zen cut Nayax from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $79.80 price target on shares of Nayax in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.20.

Nayax Stock Performance

The business’s fifty day moving average is $63.39 and its two-hundred day moving average is $55.53. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $2.73 billion, a PE ratio of 94.51 and a beta of 0.39.

Nayax (NASDAQ:NYAX) last posted its earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Nayax had a net margin of 6.95% and a return on equity of 14.09%. The business had revenue of $106.86 million during the quarter, compared to analysts’ expectations of $105.64 million. As a group, research analysts anticipate that Nayax Ltd. will post 0.73 EPS for the current fiscal year.

Insider Activity at Nayax

In related news, insider Aaron Samuel Greenberg sold 1,002 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $63.94, for a total value of $64,067.88. Following the completion of the transaction, the insider directly owned 25,753 shares of the company’s stock, valued at approximately $1,646,646.82. This trade represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Michal Sever sold 5,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $64.32, for a total transaction of $321,600.00. Following the completion of the transaction, the chief marketing officer directly owned 17,306 shares of the company’s stock, valued at approximately $1,113,121.92. This trade represents a 22.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 8,533 shares of company stock valued at $550,228.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NYAX. 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. purchased a new position in Nayax during the second quarter worth $33,000. Bank of America Corp DE boosted its stake in Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after buying an additional 1,353 shares during the period. Smartleaf Asset Management LLC purchased a new position in Nayax during the fourth quarter worth $69,000. Finally, Alliancebernstein L.P. purchased a new position in Nayax during the third quarter worth $128,000. 34.87% of the stock is owned by hedge funds and other institutional investors.

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.