Nayax (NASDAQ:NYAX) Rating Increased to Hold at Barclays

Key Points

• Barclays upgraded Nayax to “hold”, adding to a mixed analyst picture that leaves the stock with an overall average rating of Hold and an average target price of $78.16.
• Nayax’s latest quarterly results showed EPS of $0.03, below expectations, while revenue of $106.86 million came in slightly above analyst estimates.
• Shares opened at $66.36, with the stock trading below its 1-year high of $76.86; recent insider sales and increased institutional buying were also highlighted in the report.

Nayax (NASDAQ:NYAX - Get Free Report) was upgraded by Barclays to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer raised shares of Nayax from a "market perform" rating to an "outperform" rating and set a $86.00 target price for the company in a research report on Wednesday, May 27th. Zacks Research upgraded Nayax from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 1st. Jefferies Financial Group restated a "buy" rating and issued a $79.80 price target on shares of Nayax in a research note on Thursday, May 14th. Keefe, Bruyette & Woods raised their price target on Nayax from $60.00 to $75.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. Finally, Wall Street Zen cut Nayax from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $78.16.

Nayax Stock Performance

NASDAQ:NYAX opened at $66.36 on Tuesday. The firm has a 50-day moving average of $67.91 and a two-hundred day moving average of $60.79. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.99 and a quick ratio of 0.88. The stock has a market cap of $2.43 billion, a P/E ratio of 84.00 and a beta of 0.47. Nayax has a 1-year low of $39.17 and a 1-year high of $76.86.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its 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 analysts' expectations of $105.64 million. Nayax had a return on equity of 14.09% and a net margin of 6.95%. On average, research analysts expect that Nayax will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Aaron Samuel Greenberg sold 440 shares of the firm's stock in a transaction on Monday, June 1st. The stock was 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 $1,899,828.65. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Carly Lisanne Furman sold 382 shares of Nayax stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $68.08, for a total value of $26,006.56. Following the transaction, the chief executive officer directly owned 21,439 shares in the company, valued at approximately $1,459,567.12. This trade represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 50,385 shares of company stock valued at $3,659,391 over the last quarter.

Institutional Investors Weigh In On Nayax

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of Nayax by 210.5% during the 2nd 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. bought a new position in shares of Nayax in the second quarter worth about $33,000. Bank of America Corp DE increased its position in 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 buying an additional 1,353 shares during the period. Smartleaf Asset Management LLC bought a new position in Nayax during the fourth quarter worth $69,000. Finally, Alliancebernstein L.P. bought a new position in shares of Nayax during the 3rd quarter worth about $128,000. Institutional investors own 34.87% of the company's stock.

Nayax Company Profile

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.

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