Barclays Initiates Coverage on Nayax (NASDAQ:NYAX)

Stock analysts at Barclays initiated coverage on shares of Nayax (NASDAQ:NYAX - Get Free Report) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set an "equal weight" rating and a $27.00 price target on the stock. Barclays's price target would suggest a potential upside of 8.65% from the stock's current price.

Separately, UBS Group initiated coverage on Nayax in a research note on Monday, April 29th. They issued a "neutral" rating and a $29.00 target price on the stock.

Nayax Stock Performance

NYAX stock traded up $1.22 during midday trading on Wednesday, hitting $24.85. The company's stock had a trading volume of 960 shares, compared to its average volume of 9,587. The stock's 50-day moving average price is $26.36 and its 200 day moving average price is $23.69. The company has a quick ratio of 1.27, a current ratio of 1.36 and a debt-to-equity ratio of 0.22. Nayax has a 1 year low of $17.52 and a 1 year high of $30.99. The stock has a market cap of $816.32 million, a price-to-earnings ratio of -55.52 and a beta of 0.10.

Nayax (NASDAQ:NYAX - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The firm had revenue of $66.60 million during the quarter, compared to the consensus estimate of $67.50 million. Nayax had a negative net margin of 6.20% and a negative return on equity of 13.46%. On average, equities analysts forecast that Nayax will post -0.11 EPS for the current year.

Institutional Trading of Nayax

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ibex Investors LLC increased its stake in Nayax by 0.5% in the 3rd quarter. Ibex Investors LLC now owns 303,640 shares of the company's stock worth $7,031,000 after acquiring an additional 1,500 shares during the last quarter. Hood River Capital Management LLC purchased a new position in shares of Nayax in the 1st quarter worth about $102,000. Assenagon Asset Management S.A. purchased a new position in shares of Nayax in the 3rd quarter worth about $575,000. Baillie Gifford & Co. purchased a new position in shares of Nayax in the 1st quarter worth about $1,302,000. Finally, Swedbank AB purchased a new position in shares of Nayax in the 1st quarter worth about $2,620,000. 34.87% of the stock is currently owned by institutional investors.

About Nayax

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.