Nayax (NASDAQ:NYAX) Reaches New 1-Year High – Still a Buy?

Nayax Ltd. (NASDAQ:NYAX) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $75.00 and last traded at $67.00, with a volume of 33050 shares trading hands. The stock had previously closed at $63.78.

Analysts Set New Price Targets

Several analysts recently issued reports on NYAX shares. Wall Street Zen cut shares of Nayax from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nayax in a report on Thursday, January 22nd. Keefe, Bruyette & Woods increased their target price on shares of Nayax from $60.00 to $75.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Zacks Research cut shares of Nayax from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. Finally, William Blair reissued an “outperform” rating on shares of Nayax in a report on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $74.27.

Nayax Stock Up 0.3%

The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 84.85 and a beta of 0.39. The stock’s fifty day simple moving average is $62.77 and its two-hundred day simple moving average is $54.98. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.99 and a quick ratio of 0.88.

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

Insider Transactions at Nayax

In other news, CFO Sagit Manor sold 1,754 shares of the company’s 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 completion of the transaction, the chief financial officer owned 47,523 shares in the company, valued at approximately $3,038,620.62. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aaron Samuel Greenberg sold 1,002 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total transaction of $64,067.88. Following the transaction, the insider owned 25,753 shares of the company’s stock, valued at $1,646,646.82. This represents a 3.75% decrease in their position. 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 sold 8,533 shares of company stock worth $550,228.

Hedge Funds Weigh In On Nayax

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in shares of 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 acquiring an additional 400 shares during the last quarter. Osaic Holdings Inc. bought a new position in shares of Nayax during the second quarter worth about $33,000. Bank of America Corp DE grew its position in shares of Nayax by 254.9% during the third quarter. Bank of America Corp DE now owns 1,331 shares of the company’s stock worth $63,000 after acquiring an additional 956 shares during the last quarter. Smartleaf Asset Management LLC bought a new position in shares of Nayax during the fourth quarter worth about $69,000. Finally, Alliancebernstein L.P. bought a new position in shares of Nayax during the third quarter worth about $128,000. Institutional investors 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.