Nayax (NASDAQ:NYAX) Shares Gap Up – Should You Buy?

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $41.18, but opened at $42.47. Nayax shares last traded at $42.47, with a volume of 4,922 shares traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NYAX. William Blair raised Nayax from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 1st. B. Riley restated a “buy” rating and issued a $47.00 price objective (up from $44.00) on shares of Nayax in a report on Wednesday, May 14th. Jefferies Financial Group reissued a “buy” rating on shares of Nayax in a research note on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods raised their target price on Nayax from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Nayax currently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Nayax Stock Performance

The stock has a market cap of $1.50 billion, a PE ratio of -136.41 and a beta of 0.13. The company’s 50 day simple moving average is $37.77 and its 200 day simple moving average is $34.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. The company had revenue of $81.11 million during the quarter, compared to the consensus estimate of $85.08 million. Analysts expect that Nayax Ltd. will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Nayax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NYAX. Y.D. More Investments Ltd raised its position in shares of Nayax by 42.7% in the fourth quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock valued at $34,630,000 after purchasing an additional 354,350 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its holdings in Nayax by 2.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 663,061 shares of the company’s stock valued at $22,415,000 after acquiring an additional 16,200 shares during the period. Ibex Investors LLC boosted its holdings in shares of Nayax by 19.3% in the first quarter. Ibex Investors LLC now owns 416,015 shares of the company’s stock worth $14,039,000 after acquiring an additional 67,276 shares during the period. Swedbank AB grew its holdings in Nayax by 44.5% during the 4th quarter. Swedbank AB now owns 300,000 shares of the company’s stock valued at $8,748,000 after buying an additional 92,441 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Nayax by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after acquiring an additional 89,886 shares in the last quarter. Institutional investors own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd., a fintech company, operates system and payment platform for multiple retailers in the United States, Europe, the United Kingdom, Australia, Israel, and rest of the world. The company offers AMIT 3.0, a machine-to-machine vending telemetry solution; Nayax Core, a management and monitoring software for vending machines and other unattended machines; MoMa, a mobile app for unattended machine; Tigapo back-office software suite, a cloud-based platform; EV Core, a smart, cloud-based management platform; Retail Management Cloud, a comprehensive attended retail management platform; Loyalty and Marketing Suite, a consumer engagement marketing and loyalty platform; Monyx Wallet, a digital wallet app enabling cashless payments with mobile phones; Weezmo, a consumer engagement and marketing platform; and Tigapo app, a proprietary mobile app to help family entertainment center businesses.