Barclays Upgrades Nayax (NASDAQ:NYAX) to “Hold”

Nayax (NASDAQ:NYAX) was upgraded by equities researchers at Barclays to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Oppenheimer upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price objective for the company in a report on Wednesday, May 27th. Jefferies Financial Group reiterated a “buy” rating and set a $79.80 target price on shares of Nayax in a research note on Thursday, May 14th. UBS Group lifted their price target on Nayax from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Wall Street Zen downgraded Nayax from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of Nayax in a report on Monday, March 9th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $78.16.

Nayax Stock Performance

NASDAQ NYAX opened at $66.36 on Tuesday. The stock has a market cap of $2.43 billion, a PE ratio of 84.00 and a beta of 0.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.99. The firm has a 50-day moving average of $67.91 and a 200-day moving average of $60.79. Nayax has a 52-week low of $39.17 and a 52-week high of $76.86.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The company had revenue of $106.86 million during the quarter, compared to analyst estimates of $105.64 million. Nayax had a net margin of 6.95% and a return on equity of 14.09%. On average, sell-side analysts anticipate that Nayax will post 0.73 EPS for the current year.

Insider Activity

In other Nayax news, insider Eden Zafrani sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total value of $32,445.00. Following the transaction, the insider directly owned 14,869 shares of the company’s stock, valued at $964,849.41. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aaron Samuel Greenberg sold 440 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $73.31, for a total transaction of $32,256.40. Following the completion of the transaction, the insider owned 25,915 shares of the company’s stock, valued at $1,899,828.65. The trade was a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 50,385 shares of company stock valued at $3,659,391.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted 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 purchasing an additional 400 shares during the last quarter. Osaic Holdings Inc. bought a new position in shares of Nayax in the 2nd quarter valued at $33,000. Bank of America Corp DE increased its stake in shares of Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after purchasing an additional 1,353 shares during the last quarter. Smartleaf Asset Management LLC bought a new position in shares of Nayax in the 4th quarter valued at $69,000. Finally, Alliancebernstein L.P. acquired a new position in shares of Nayax during the 3rd quarter worth $128,000. 34.87% of the stock is currently 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.