Nayax (NASDAQ:NYAX) Stock Rating Upgraded by Zacks Research

Nayax (NASDAQ:NYAX) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. William Blair restated an “outperform” rating on shares of Nayax in a research note on Monday, March 9th. Keefe, Bruyette & Woods raised their price target on Nayax from $60.00 to $75.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Jefferies Financial Group restated a “buy” rating and set a $79.80 price target on shares of Nayax in a research note on Thursday, May 14th. UBS Group increased their price objective on shares of Nayax from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Finally, Oppenheimer upgraded shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 target price for the company in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nayax has a consensus rating of “Hold” and a consensus price target of $78.95.

Nayax Stock Up 3.6%

NASDAQ:NYAX opened at $70.22 on Wednesday. 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 stock has a market capitalization of $2.57 billion, a P/E ratio of 88.89 and a beta of 0.47. The company’s 50-day simple moving average is $67.74 and its 200-day simple moving average is $59.99. Nayax has a fifty-two week low of $39.17 and a fifty-two week high of $76.86.

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 firm had revenue of $106.86 million for the quarter, compared to analysts’ expectations of $105.64 million. On average, equities analysts anticipate that Nayax will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Keren Sharir sold 4,500 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $71.80, for a total value of $323,100.00. Following the sale, the president directly owned 26,876 shares of the company’s stock, valued at $1,929,696.80. This represents a 14.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Ben-Avi sold 16,590 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $76.48, for a total transaction of $1,268,803.20. Following the transaction, the insider owned 6,587,718 shares of the company’s stock, valued at $503,828,672.64. This represents a 0.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 50,385 shares of company stock worth $3,659,391 in the last quarter.

Institutional Investors Weigh In On Nayax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NYAX. Bank of America Corp DE lifted its holdings in shares of Nayax by 1,607.2% in the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock valued at $519,000 after buying an additional 8,727 shares during the period. Altshuler Shaham Ltd grew its holdings in Nayax by 5.0% during the first quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock worth $2,026,000 after acquiring an additional 1,731 shares during the period. Y.D. More Investments Ltd grew its holdings in Nayax by 3.1% during the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock worth $48,387,000 after acquiring an additional 25,694 shares during the period. Assenagon Asset Management S.A. raised its position in Nayax by 36.4% during the first quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock valued at $15,195,000 after acquiring an additional 72,357 shares in the last quarter. Finally, Amundi acquired a new position in Nayax in the fourth quarter valued at approximately $302,000. 34.87% of the stock is owned by institutional investors and hedge funds.

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.