Nayax (NASDAQ:NYAX) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Nayax from Hold to Strong Sell, even as other firms remain mixed on the stock. The overall analyst consensus is still Hold with an average price target of $74.27.
• Nayax reported its latest quarterly earnings with EPS of $0.03, missing the consensus estimate of $0.08, while revenue came in at $106.86 million, slightly above expectations. Analysts now expect the company to earn $0.79 per share for the full fiscal year.
• Insiders recently sold shares, including the CFO and another executive, though the sales were tied to tax withholding from equity vesting. The stock was trading around $65.42, near its 52-week high of $74.83.

Nayax (NASDAQ:NYAX - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Wednesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Jefferies Financial Group reissued a "buy" rating and set a $79.80 target price on shares of Nayax in a research note on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Nayax in a research note on Thursday, January 22nd. UBS Group increased their target price on Nayax from $55.00 to $68.00 and gave the stock a "neutral" rating in a research note on Wednesday. Keefe, Bruyette & Woods upped 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. Finally, William Blair reaffirmed an "outperform" rating on shares of Nayax in a research report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $74.27.

Nayax Price Performance

NASDAQ NYAX opened at $65.42 on Wednesday. The business has a 50 day simple moving average of $61.90 and a 200 day simple moving average of $54.16. Nayax has a 52-week low of $38.50 and a 52-week high of $74.83. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.16 and a current ratio of 0.99. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 82.81 and a beta of 0.39.

Nayax (NASDAQ:NYAX - Get Free Report) last posted 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). Nayax had a return on equity of 14.09% and a net margin of 6.95%.The business had revenue of $106.86 million for the quarter, compared to the consensus estimate of $105.64 million. Analysts anticipate that Nayax will post 0.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nayax news, insider Aaron Samuel Greenberg sold 1,002 shares of the company's stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total transaction of $64,067.88. Following the completion of the transaction, the insider owned 25,753 shares of the company's stock, valued at $1,646,646.82. This represents a 3.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sagit Manor sold 1,754 shares of the company's stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total value of $112,150.76. Following the transaction, the chief financial officer directly owned 47,523 shares of the company's stock, valued at approximately $3,038,620.62. This trade represents a 3.56% 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. In the last ninety days, insiders have sold 3,051 shares of company stock valued at $196,941.

Hedge Funds Weigh In On Nayax

A number of large investors have recently bought and sold shares of NYAX. Y.D. More Investments Ltd boosted its holdings in shares of Nayax by 3.2% in the 4th quarter. Y.D. More Investments Ltd now owns 839,477 shares of the company's stock valued at $42,399,000 after buying an additional 26,146 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Nayax by 57.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 198,714 shares of the company's stock valued at $10,044,000 after buying an additional 72,354 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Nayax in the 4th quarter valued at approximately $967,000. Jane Street Group LLC boosted its holdings in shares of Nayax by 9.2% in the 4th quarter. Jane Street Group LLC now owns 8,631 shares of the company's stock valued at $437,000 after buying an additional 726 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Nayax by 8.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,058 shares of the company's stock valued at $407,000 after buying an additional 594 shares during the last quarter. Institutional investors and hedge funds 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.

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