Nayax (NASDAQ:NYAX) Upgraded by Zacks Research to Hold Rating

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

Several other brokerages have also weighed in on NYAX. UBS Group increased their price objective on shares of Nayax from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Nayax from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.80 price target on shares of Nayax in a research note on Thursday, May 14th. Keefe, Bruyette & Woods lifted their price target on shares of Nayax from $60.00 to $75.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Finally, William Blair reissued an “outperform” rating on shares of Nayax in a research note on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $78.95.

Nayax Price Performance

NYAX stock opened at $70.22 on Wednesday. The stock has a market capitalization of $2.57 billion, a price-to-earnings 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. Nayax has a 52-week low of $39.17 and a 52-week high of $76.86. The stock’s fifty day simple moving average is $67.74 and its 200-day simple moving average is $59.99.

Nayax (NASDAQ:NYAX) last released its earnings results on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $105.64 million. Equities research analysts expect that Nayax will post 0.73 EPS for the current year.

Insider Activity at Nayax

In other news, insider Eden Zafrani sold 500 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total value of $32,445.00. Following the completion of the sale, the insider owned 14,869 shares of the company’s stock, valued at $964,849.41. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Oren Tepper sold 1,052 shares of the stock in a transaction on Monday, June 1st. The stock was 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 of the company’s stock, valued at $1,421,627.52. The trade was a 5.15% 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. Insiders sold 50,385 shares of company stock valued at $3,659,391 over the last quarter.

Institutional Trading of Nayax

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after purchasing an additional 1,353 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Nayax by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock worth $9,966,000 after buying an additional 89,886 shares during the period. Geode Capital Management LLC grew its stake in shares of Nayax by 19.7% in the second quarter. Geode Capital Management LLC now owns 33,511 shares of the company’s stock valued at $1,685,000 after buying an additional 5,523 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Nayax by 18.6% in the second quarter. Legal & General Group Plc now owns 14,087 shares of the company’s stock valued at $711,000 after buying an additional 2,214 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Nayax by 210.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock valued at $30,000 after buying an additional 400 shares during the period. 34.87% of the stock is currently 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.