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 traded.

Wall Street Analysts Forecast Growth

NYAX has been the topic of a number of recent research reports. UBS Group reissued a “neutral” rating and set a $70.00 price target on shares of Nayax in a research note on Tuesday, August 11th. Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Oppenheimer raised shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research note on Wednesday, May 27th. Wall Street Zen lowered Nayax from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $75.76.

Nayax Price Performance

The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.03 and a current ratio of 2.12. The business has a 50 day moving average price of $61.38 and a 200-day moving average price of $62.12. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 255.95 and a beta of 0.43.

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

Insider Buying and Selling at Nayax

In other Nayax news, CFO Sagit Manor sold 1,252 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $66.74, for a total value of $83,558.48. Following the completion of the sale, the chief financial officer directly owned 45,238 shares in the company, valued at approximately $3,019,184.12. This trade represents a 2.69% 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, insider Eden Zafrani sold 500 shares of Nayax stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total transaction of $32,445.00. Following the completion of the sale, the insider directly owned 14,869 shares of the company’s stock, valued at approximately $964,849.41. This trade represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,818 shares of company stock worth $184,929.

Institutional Investors Weigh In On Nayax

A number of hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Nayax during the second quarter worth approximately $239,000. Bank of America Corp DE grew its position in Nayax by 1,607.2% in the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock valued at $519,000 after purchasing an additional 8,727 shares during the period. Altshuler Shaham Ltd grew its position in Nayax by 5.0% in the 1st quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock valued at $2,026,000 after purchasing an additional 1,731 shares during the period. Y.D. More Investments Ltd increased its stake in Nayax by 3.1% during the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock valued at $48,387,000 after purchasing an additional 25,694 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings 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 buying an additional 72,357 shares during the last quarter. Institutional investors and hedge funds own 34.87% of the company’s stock.

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.