Nayax (NASDAQ:NYAX) Coverage Initiated by Analysts at Barclays

Barclays began coverage on shares of Nayax (NASDAQ:NYAX) in a report issued on Wednesday morning, MarketBeat reports. The brokerage issued an equal weight rating and a $75.00 price objective on the stock.

Several other brokerages have also commented on NYAX. Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 1st. UBS Group lifted their target price on shares of Nayax from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Jefferies Financial Group reissued a “buy” rating and issued a $79.80 target price on shares of Nayax in a research report on Thursday, May 14th. Wall Street Zen cut Nayax from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, 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 research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $78.16.

Nayax Stock Down 0.5%

Shares of NASDAQ:NYAX opened at $65.67 on Wednesday. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 83.13 and a beta of 0.47. Nayax has a 12-month low of $39.17 and a 12-month high of $76.86. The business has a 50-day moving average price of $67.95 and a 200 day moving average price of $60.65. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53.

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 company had revenue of $106.86 million during the quarter, compared to analyst estimates of $105.64 million. Sell-side analysts expect that Nayax will post 0.73 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Carly Lisanne Furman sold 1,753 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $73.31, for a total transaction of $128,512.43. Following the sale, the chief executive officer owned 21,821 shares of the company’s stock, valued at approximately $1,599,697.51. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Keren Sharir sold 4,500 shares of the 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 completion of the sale, the president owned 26,876 shares in the company, valued at approximately $1,929,696.80. The trade was a 14.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 50,385 shares of company stock valued at $3,659,391.

Hedge Funds Weigh In On Nayax

Several large investors have recently bought and sold shares of the business. 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 during the last quarter. Osaic Holdings Inc. purchased a new position in Nayax in the second quarter valued at approximately $33,000. Bank of America Corp DE raised its holdings in Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after purchasing an additional 1,353 shares in the last quarter. Smartleaf Asset Management LLC acquired a new stake in Nayax during the fourth quarter worth approximately $69,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Nayax during the 3rd quarter worth approximately $128,000. Hedge funds and other institutional investors 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.