Nayax (NASDAQ:NYAX) Shares Gap Up – Still a Buy?

Shares of Nayax Ltd. (NASDAQ:NYAX) gapped up before the market opened on Tuesday . The stock had previously closed at $52.06, but opened at $53.80. Nayax shares last traded at $53.4990, with a volume of 8,227 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NYAX. Weiss Ratings upgraded Nayax from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods raised shares of Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Friday, August 14th. Barclays cut their price target on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 11th. UBS Group reaffirmed a “neutral” rating and set a $70.00 price target on shares of Nayax in a research report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of Nayax from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.76.

Nayax Price Performance

The business’s 50-day moving average price is $61.87 and its two-hundred day moving average price is $62.18. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 253.83 and a beta of 0.47. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.12 and a quick ratio of 2.03.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. Nayax had a net margin of 1.74% and a return on equity of 10.45%. The business had revenue of $122.59 million for the quarter, compared to analysts’ expectations of $116.75 million. On average, research analysts forecast that Nayax Ltd. will post 0.75 EPS for the current fiscal year.

Insider Activity

In related news, insider Eden Zafrani sold 500 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $64.89, for a total transaction of $32,445.00. Following the transaction, the insider directly owned 14,869 shares in the company, valued at $964,849.41. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sagit Manor sold 1,252 shares of Nayax stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $66.74, for a total transaction of $83,558.48. Following the completion of the transaction, the chief financial officer directly owned 45,238 shares of the company’s stock, valued at approximately $3,019,184.12. This represents a 2.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 4,255 shares of company stock worth $282,739.

Institutional Trading of Nayax

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 535,476 shares during the last quarter. AltraVue Capital LLC bought a new stake in shares of Nayax during the 4th quarter valued at about $11,623,000. Goldman Sachs Group Inc. raised 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 worth $9,966,000 after acquiring an additional 89,886 shares during the period. Assenagon Asset Management S.A. raised its stake in Nayax by 36.4% during the first quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock worth $15,195,000 after acquiring an additional 72,357 shares during the period. Finally, UBS Group AG lifted its holdings in Nayax by 12,665.1% in the fourth quarter. UBS Group AG now owns 57,443 shares of the company’s stock worth $2,907,000 after acquiring an additional 56,993 shares during the last quarter. 34.87% of the stock is owned by institutional investors and hedge funds.

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.