Nayax (NASDAQ:NYAX) Stock Gets Price Target Reduction from UBS Group

Nayax (NASDAQ:NYAX) had its price target cut by UBS Group from $70.00 to $66.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently commented on NYAX. Keefe, Bruyette & Woods upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Friday, August 14th. Jefferies Financial Group initiated coverage on Nayax in a report on Wednesday, October 7th. They issued a “buy” rating and a $68.30 target price for the company. Barclays dropped their price target on Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings lowered Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.06.

Nayax Trading Down 2.2%

Nayax stock traded down $1.13 during trading hours on Thursday, hitting $51.05. The company had a trading volume of 32,442 shares, compared to its average volume of 24,650. 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 firm has a market cap of $1.87 billion, a P/E ratio of 567.22 and a beta of 0.46. The company has a 50-day moving average price of $47.36 and a two-hundred day moving average price of $58.01. Nayax has a 1 year low of $39.17 and a 1 year high of $76.86.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings results on Wednesday, November 11th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.19. The firm had revenue of $128.04 million during the quarter, compared to the consensus estimate of $134.35 million. Nayax had a net margin of 0.68% and a return on equity of 14.59%. On average, sell-side analysts anticipate that Nayax will post 0.91 earnings per share for the current year.

Insider Activity

In related news, CEO Yair Nechmad purchased 104,511 shares of Nayax stock in a transaction dated Thursday, September 24th. The stock was purchased at an average cost of $44.09 per share, with a total value of $4,607,889.99. Following the transaction, the chief executive officer owned 7,433,558 shares in the company, valued at approximately $327,745,572.22. The trade was a 1.43% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gal Omer sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $45.17, for a total value of $67,755.00. Following the completion of the transaction, the insider directly owned 18,539 shares of the company’s stock, valued at approximately $837,406.63. The trade was a 7.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have purchased 198,962 shares of company stock worth $8,972,432 and have sold 3,141 shares worth $145,536.

Institutional Trading of Nayax

A number of institutional investors have recently modified their holdings of NYAX. Altshuler Shaham Ltd raised its stake in shares of Nayax by 5.0% during the 1st quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock worth $2,026,000 after acquiring an additional 1,731 shares in the last quarter. Tidal Investments LLC purchased a new position in Nayax during the 2nd quarter worth $650,000. Bank of America Corp DE increased its position in Nayax by 1,607.2% during the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock valued at $519,000 after buying an additional 8,727 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Nayax during the 2nd quarter valued at about $239,000. 34.87% of the stock is currently owned by institutional investors.

Key Stories Impacting Nayax

These are some of the NYAX stories that stood out recently:

• 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.