Nayax (NASDAQ:NYAX) Shares Gap Up – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX) shares gapped up before the market opened on Monday . The stock had previously closed at $64.36, but opened at $67.02. Nayax shares last traded at $67.40, with a volume of 1,503 shares.

Wall Street Analyst Weigh In

Several brokerages recently commented on NYAX. Keefe, Bruyette & Woods upped their target price on Nayax from $60.00 to $75.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Oppenheimer upgraded shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price target for the company in a report on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.80 price objective on shares of Nayax in a research note on Thursday, May 14th. Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen downgraded shares of Nayax from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $78.16.

Nayax Stock Performance

The firm has a market capitalization of $2.54 billion, a P/E ratio of 87.72 and a beta of 0.47. The stock has a fifty day simple moving average of $66.92 and a two-hundred day simple moving average of $61.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.99 and a quick ratio of 0.88.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The business had revenue of $106.86 million for the quarter, compared to the consensus estimate of $105.64 million. Nayax had a return on equity of 14.09% and a net margin of 6.95%. On average, research analysts predict that Nayax Ltd. will post 0.73 EPS for the current year.

Insiders Place Their Bets

In other news, insider Eden Zafrani sold 500 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total transaction of $32,445.00. Following the transaction, the insider owned 14,869 shares of the company’s stock, valued at $964,849.41. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Aaron Samuel Greenberg sold 440 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $73.31, for a total value of $32,256.40. Following the completion of the sale, the insider owned 25,915 shares of the company’s stock, valued at approximately $1,899,828.65. This represents a 1.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 47,629 shares of company stock valued at $3,483,173.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NYAX. Russell Investments Group Ltd. grew its stake in Nayax by 210.5% in the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares during the period. Osaic Holdings Inc. acquired a new position in shares of Nayax during the second quarter worth approximately $33,000. Bank of America Corp DE lifted 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 worth $44,000 after purchasing an additional 1,353 shares in the last quarter. Smartleaf Asset Management LLC bought a new position in shares of Nayax in the 4th quarter worth $69,000. Finally, Alliancebernstein L.P. acquired a new stake in Nayax in the 3rd quarter valued at $128,000. 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.