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

Nayax Ltd. (NASDAQ:NYAX - Get Free Report)'s stock price gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. 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 business had revenue of $81.11 million for the quarter, compared to analysts' expectations of $85.08 million.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Nayax

Large investors have recently made changes to their positions in the business. Y.D. More Investments Ltd boosted its holdings in Nayax by 42.7% in the fourth quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company's stock valued at $34,630,000 after purchasing an additional 354,350 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Nayax by 2.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 663,061 shares of the company's stock valued at $22,415,000 after purchasing an additional 16,200 shares during the last quarter. Ibex Investors LLC boosted its holdings in Nayax by 19.3% in the first quarter. Ibex Investors LLC now owns 416,015 shares of the company's stock valued at $14,039,000 after purchasing an additional 67,276 shares during the last quarter. Swedbank AB boosted its holdings in Nayax by 44.5% in the fourth quarter. Swedbank AB now owns 300,000 shares of the company's stock valued at $8,748,000 after purchasing an additional 92,441 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Nayax by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company's stock valued at $9,966,000 after purchasing an additional 89,886 shares during the last quarter. 34.87% of the stock is owned by institutional investors and hedge funds.

Nayax Stock Performance

The firm's fifty day simple moving average is $37.65 and its 200 day simple moving average is $34.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.16. The company has a market capitalization of $1.47 billion, a PE ratio of -133.29 and a beta of 0.13.

About Nayax

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.