Nayax (NASDAQ:NYAX) Shares Gap Down Following Weak Earnings

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $40.66, but opened at $38.84. Nayax shares last traded at $39.40, with a volume of 7,932 shares.

The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. The firm had revenue of $81.11 million during the quarter, compared to analyst estimates of $85.08 million.

Analyst Ratings Changes

NYAX has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price objective on Nayax from $38.00 to $40.00 and gave the company a "market perform" rating in a report on Wednesday. Jefferies Financial Group restated a "buy" rating on shares of Nayax in a report on Tuesday. William Blair upgraded Nayax from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 1st. Finally, B. Riley restated a "buy" rating and issued a $47.00 price objective (up previously from $44.00) on shares of Nayax in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.33.

Hedge Funds Weigh In On Nayax

A number of hedge funds and other institutional investors have recently bought and sold shares of NYAX. Y.D. More Investments Ltd boosted its holdings in shares of Nayax by 42.7% during the fourth quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company's stock worth $34,630,000 after acquiring an additional 354,350 shares during the period. Swedbank AB boosted its holdings in shares of Nayax by 44.5% during the fourth quarter. Swedbank AB now owns 300,000 shares of the company's stock worth $8,748,000 after acquiring an additional 92,441 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Nayax by 43.9% during the first 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 during the period. Ibex Investors LLC boosted its holdings in shares of Nayax by 19.3% during the first quarter. Ibex Investors LLC now owns 416,015 shares of the company's stock worth $14,039,000 after acquiring an additional 67,276 shares during the period. Finally, ARK Investment Management LLC bought a new stake in shares of Nayax during the first quarter worth approximately $1,906,000. Institutional investors own 34.87% of the company's stock.

Nayax Trading Down 1.6%

The company has a market cap of $1.47 billion, a P/E ratio of -133.29 and a beta of 0.13. The business has a fifty day moving average price of $37.65 and a 200-day moving average price of $34.35. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11.

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.