Nayax (NASDAQ:NYAX) Shares Gap Down - Here's Why

Key Points

• Nayax shares gapped down from a previous close of $68.27 to open at $64.57, though they later traded near $68.50. The company has a $2.52 billion market capitalization and trades at a high price-to-earnings ratio of 86.96.
• Analyst sentiment remains mixed but leans toward “Hold,” with three Buy, four Hold and one Sell rating. The average price target is $78.16, while Oppenheimer upgraded the stock to Outperform with an $86 target.
• Nayax reported quarterly EPS of $0.03, missing the $0.08 consensus estimate, while revenue of $106.86 million exceeded forecasts. Insiders sold $3.48 million of stock over the past quarter, primarily to cover tax obligations tied to equity awards.

Shares of Nayax Ltd. (NASDAQ:NYAX - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $68.27, but opened at $64.57. Nayax shares last traded at $68.4990, with a volume of 483 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Nayax from $60.00 to $75.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 13th. Oppenheimer raised Nayax from a "market perform" rating to an "outperform" rating and set a $86.00 target price on the stock in a research note on Wednesday, May 27th. Barclays started coverage on Nayax in a research report on Wednesday, July 8th. They set an "equal weight" rating and a $75.00 target price for the company. Wall Street Zen downgraded shares of Nayax from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Zacks Research raised shares of Nayax from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nayax currently has an average rating of "Hold" and an average price target of $78.16.

Nayax Price Performance

The company has a 50-day moving average of $66.97 and a 200-day moving average of $62.84. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.99. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 86.96 and a beta of 0.47.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). The company had revenue of $106.86 million for the quarter, compared to analyst estimates of $105.64 million. Nayax had a return on equity of 14.09% and a net margin of 6.95%. As a group, research analysts anticipate that Nayax Ltd. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Nayax

In related news, insider Aaron Samuel Greenberg sold 440 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $73.31, for a total value of $32,256.40. Following the sale, the insider directly owned 25,915 shares of the company's stock, valued at approximately $1,899,828.65. The trade was a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sagit Manor sold 1,252 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $66.74, for a total transaction of $83,558.48. Following the completion of the transaction, the chief financial officer directly owned 45,238 shares of the company's stock, valued at approximately $3,019,184.12. The trade was a 2.69% 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. Insiders sold a total of 47,629 shares of company stock valued at $3,482,786 over the last quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock valued at $44,000 after acquiring an additional 1,353 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Nayax by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company's stock worth $9,966,000 after acquiring an additional 89,886 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Nayax by 19.7% in the second quarter. Geode Capital Management LLC now owns 33,511 shares of the company's stock valued at $1,685,000 after purchasing an additional 5,523 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Nayax by 18.6% in the second quarter. Legal & General Group Plc now owns 14,087 shares of the company's stock valued at $711,000 after purchasing an additional 2,214 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of 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 purchasing an additional 400 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors.

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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