Nayax (NASDAQ:NYAX) Shares Gap Up – Should You Buy?

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped up before the market opened on Monday . The stock had previously closed at $30.67, but opened at $32.86. Nayax shares last traded at $32.86, with a volume of 1,093 shares changing hands.

Wall Street Analysts Forecast Growth

NYAX has been the subject of a number of recent research reports. Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. B. Riley assumed coverage on shares of Nayax in a report on Tuesday, November 19th. They set a “buy” rating and a $38.00 target price on the stock. Oppenheimer started coverage on shares of Nayax in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, Barclays raised their price objective on Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.25.

Nayax Stock Performance

The business’s fifty day simple moving average is $28.66 and its 200-day simple moving average is $25.66. The firm has a market cap of $1.18 billion, a P/E ratio of -107.00 and a beta of -0.03. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Nayax (NASDAQ:NYAX) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $83.01 million during the quarter, compared to analysts’ expectations of $88.40 million. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. During the same quarter last year, the business posted ($0.09) EPS. As a group, sell-side analysts expect that Nayax Ltd. will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On Nayax

Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Nayax by 16.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock valued at $168,000 after acquiring an additional 1,099 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in shares of Nayax during the second quarter valued at approximately $14,790,000. Altshuler Shaham Ltd purchased a new stake in Nayax in the second quarter worth $1,010,000. Hood River Capital Management LLC raised its holdings in Nayax by 35.8% in the second quarter. Hood River Capital Management LLC now owns 5,313 shares of the company’s stock worth $116,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Swedbank AB lifted its position in Nayax by 107.6% during the third quarter. Swedbank AB now owns 207,559 shares of the company’s stock valued at $5,233,000 after buying an additional 107,559 shares during the period. Institutional investors own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd., a fintech company, operates system and payment platform for multiple retailers in the United States, Europe, the United Kingdom, Australia, Israel, and rest of the world. The company offers AMIT 3.0, a machine-to-machine vending telemetry solution; Nayax Core, a management and monitoring software for vending machines and other unattended machines; MoMa, a mobile app for unattended machine; Tigapo back-office software suite, a cloud-based platform; EV Core, a smart, cloud-based management platform; Retail Management Cloud, a comprehensive attended retail management platform; Loyalty and Marketing Suite, a consumer engagement marketing and loyalty platform; Monyx Wallet, a digital wallet app enabling cashless payments with mobile phones; Weezmo, a consumer engagement and marketing platform; and Tigapo app, a proprietary mobile app to help family entertainment center businesses.