Nayax (NASDAQ:NYAX) Stock Price Down 3.3% - Here's What Happened

Key Points

• Nayax Ltd. (NASDAQ:NYAX) saw a decline of 3.3% in share price, closing at $46.60 after trading as low as $46.36.
• Analysts have mixed opinions on Nayax, with target prices raised by some firms, notably UBS Group from $39.00 to $43.00, but a downgrade from a "strong-buy" to a "buy" rating by Wall Street Zen.
• The company reported earnings of $0.16 per share, surpassing expectations, but revenue of $95.59 million fell short of estimates of $99.16 million.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report)'s stock price was down 3.3% during trading on Wednesday . The company traded as low as $46.36 and last traded at $46.60. Approximately 4,307 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 11,238 shares. The stock had previously closed at $48.18.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NYAX shares. Wall Street Zen cut shares of Nayax from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st. UBS Group boosted their price target on shares of Nayax from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Nayax from $40.00 to $50.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $42.00.

Nayax Stock Up 0.2%

The stock's 50 day simple moving average is $46.37 and its two-hundred day simple moving average is $42.77. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.68 and a quick ratio of 1.59. The firm has a market cap of $1.69 billion, a P/E ratio of 83.63 and a beta of 0.23.

Nayax (NASDAQ:NYAX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.06. Nayax had a net margin of 6.06% and a return on equity of 5.32%. The firm had revenue of $95.59 million for the quarter, compared to analysts' expectations of $99.16 million. Nayax has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Nayax Ltd. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NYAX. Russell Investments Group Ltd. boosted 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 acquiring an additional 400 shares during the last quarter. Osaic Holdings Inc. purchased a new position in shares of Nayax during the 2nd quarter worth $33,000. Bank of America Corp DE boosted its stake in shares of Nayax by 920.4% during the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock worth $44,000 after acquiring an additional 1,353 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Nayax during the 4th quarter worth $217,000. Finally, Ascent Group LLC purchased a new position in shares of Nayax during the 2nd quarter worth $220,000. Hedge funds and other institutional investors own 34.87% of the company's stock.

Nayax Company Profile

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.