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

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped up prior to trading on Monday. The stock had previously closed at $48.47, but opened at $51.15. Nayax shares last traded at $49.7560, with a volume of 4,135 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NYAX shares. Keefe, Bruyette & Woods upgraded 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 lowered 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 issued a $70.00 price target on shares of Nayax in a research note on Tuesday, August 11th. Jefferies Financial Group started coverage on Nayax in a report on Wednesday, October 7th. They set a “buy” rating and a $68.30 price objective for the company. Finally, Weiss Ratings cut Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research report 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.46.

Nayax Price Performance

The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $1.86 billion, a P/E ratio of 242.10 and a beta of 0.46. The company’s 50-day simple moving average is $47.59 and its 200 day simple moving average is $59.57.

Nayax (NASDAQ:NYAX) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $116.75 million. As a group, sell-side analysts expect that Nayax Ltd. will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at Nayax

In related news, CEO Yair Nechmad bought 44,148 shares of Nayax stock in a transaction that occurred on Wednesday, September 30th. The stock was purchased at an average cost of $47.84 per share, for a total transaction of $2,112,040.32. Following the acquisition, the chief executive officer owned 7,524,641 shares in the company, valued at $359,978,825.44. This trade represents a 0.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gal Omer sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 18,539 shares of the company’s stock, valued at $837,406.63. The trade was a 7.49% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders purchased 198,962 shares of company stock worth $8,972,432 and sold 3,161 shares worth $152,241.

Hedge Funds Weigh In On Nayax

Institutional investors have recently modified their holdings of the company. Y.D. More Investments Ltd grew its stake in Nayax by 3.1% in the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock valued at $48,387,000 after buying an additional 25,694 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Nayax by 36.4% during the 1st 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 last quarter. Altshuler Shaham Ltd boosted its holdings in Nayax by 5.0% during the first quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock valued at $2,026,000 after acquiring an additional 1,731 shares during the period. Tidal Investments LLC bought a new stake in Nayax during the second quarter valued at about $650,000. Finally, Bank of America Corp DE grew its position in shares of Nayax by 1,607.2% in the first 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 last quarter. Institutional investors own 34.87% of the company’s stock.

About Nayax

Nayax Ltd. (NASDAQ: NYAX) is a global commerce-enablement and payments technology company headquartered in Israel. It provides cashless payment solutions, transaction processing, and business-management tools for operators of unattended and automated retail environments.

The company’s products and services include payment terminals, cloud-based management software, telemetry and monitoring tools, customer engagement solutions, and loyalty capabilities. Nayax’s technology is used across a range of sectors, including vending, electric-vehicle charging, self-service laundries, fuel and convenience retail, parking, hospitality, and other automated or self-service businesses.

Founded in 2005, Nayax serves merchants and consumers in markets around the world through an international network of operations and partners.