Nayax (NASDAQ:NYAX) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Nayax (NASDAQ:NYAX) from a hold rating to a sell rating in a research report report published on Saturday morning.

A number of other brokerages also recently commented on NYAX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nayax in a research note on Thursday, January 22nd. William Blair reaffirmed an “outperform” rating on shares of Nayax in a research note on Monday, March 9th. Zacks Research downgraded shares of Nayax from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Keefe, Bruyette & Woods lifted their target price on shares of Nayax from $60.00 to $75.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $79.80 target price on shares of Nayax in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.27.

Nayax Price Performance

Shares of NASDAQ NYAX opened at $63.39 on Friday. The firm has a 50-day simple moving average of $62.05 and a 200-day simple moving average of $54.22. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 80.24 and a beta of 0.39. The company has a quick ratio of 2.16, a current ratio of 0.99 and a debt-to-equity ratio of 0.53. Nayax has a 52 week low of $38.50 and a 52 week high of $74.83.

Nayax (NASDAQ:NYAX) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). Nayax had a return on equity of 14.09% and a net margin of 6.95%.The firm had revenue of $106.86 million for the quarter, compared to analyst estimates of $105.64 million. On average, equities analysts predict that Nayax will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at Nayax

In other Nayax news, insider Aaron Samuel Greenberg sold 1,002 shares of Nayax stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $63.94, for a total transaction of $64,067.88. Following the completion of the sale, the insider directly owned 25,753 shares in the company, valued at $1,646,646.82. This trade represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sagit Manor sold 1,754 shares of Nayax stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $63.94, for a total transaction of $112,150.76. Following the sale, the chief financial officer owned 47,523 shares of the company’s stock, valued at approximately $3,038,620.62. This represents a 3.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 3,051 shares of company stock valued at $196,941.

Institutional Investors Weigh In On Nayax

A number of institutional investors have recently made changes to their positions in NYAX. Bank of America Corp DE increased its position in shares of Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after acquiring an additional 1,353 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Nayax by 19.7% during the second quarter. Geode Capital Management LLC now owns 33,511 shares of the company’s stock valued at $1,685,000 after acquiring an additional 5,523 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Nayax by 18.6% in the second quarter. Legal & General Group Plc now owns 14,087 shares of the company’s stock valued at $711,000 after purchasing an additional 2,214 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Nayax by 210.5% in the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares in the last quarter. 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.