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

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $64.07, but opened at $67.54. Nayax shares last traded at $68.3130, with a volume of 1,136 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NYAX. Jefferies Financial Group restated a “buy” rating and issued a $79.80 target price on shares of Nayax in a report on Thursday, May 14th. William Blair reiterated an “outperform” rating on shares of Nayax in a report on Monday, March 9th. Oppenheimer raised shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price target on the stock in a research report on Wednesday, May 27th. Zacks Research lowered shares of Nayax from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Nayax from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $78.95.

Nayax Stock Up 3.6%

The company has a market capitalization of $2.57 billion, a PE ratio of 88.89 and a beta of 0.47. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average of $67.74 and a two-hundred day moving average of $59.99.

Nayax (NASDAQ:NYAX) last posted its 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). Nayax had a net margin of 6.95% and a return on equity of 14.09%. The business had revenue of $106.86 million during the quarter, compared to analysts’ expectations of $105.64 million. Equities research analysts predict that Nayax Ltd. will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In other Nayax news, insider Oren Tepper sold 1,052 shares of Nayax stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $73.31, for a total transaction of $77,122.12. Following the completion of the sale, the insider directly owned 19,392 shares in the company, valued at $1,421,627.52. This trade represents a 5.15% 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, CEO Carly Lisanne Furman sold 382 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $68.08, for a total transaction of $26,006.56. Following the completion of the sale, the chief executive officer directly owned 21,439 shares in the company, valued at $1,459,567.12. This trade represents a 1.75% 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. In the last ninety days, insiders sold 50,385 shares of company stock worth $3,659,391.

Institutional Trading of Nayax

Several institutional investors have recently added to or reduced their stakes in NYAX. 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 in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of Nayax in the second quarter valued at $33,000. Bank of America Corp DE raised its holdings 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 buying an additional 1,353 shares during the period. Smartleaf Asset Management LLC purchased a new stake in shares of Nayax in the 4th quarter valued at $69,000. Finally, Alliancebernstein L.P. acquired a new position in Nayax during the 3rd quarter worth about $128,000. Institutional investors and hedge funds own 34.87% of the company’s stock.

About Nayax

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.