Nayax (NASDAQ:NYAX) Shares Gap Up - Still a Buy?

Nayax Ltd. (NASDAQ:NYAX - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $40.75, but opened at $42.91. Nayax shares last traded at $43.35, with a volume of 5,300 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NYAX shares. William Blair raised Nayax from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 1st. Wall Street Zen raised Nayax from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Jefferies Financial Group restated a "buy" rating on shares of Nayax in a research note on Tuesday, May 13th. B. Riley restated a "buy" rating and issued a $47.00 price target (up from $44.00) on shares of Nayax in a research note on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods lifted their price target on Nayax from $38.00 to $40.00 and gave the company a "market perform" rating in a research note on Wednesday, May 14th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Nayax currently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Nayax Price Performance

The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -143.87 and a beta of 0.13. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $39.10 and a 200 day simple moving average of $35.27.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $81.11 million for the quarter, compared to analyst estimates of $85.08 million. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. As a group, research analysts predict that Nayax Ltd. will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Nayax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Nayax by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 27,976 shares of the company's stock worth $828,000 after acquiring an additional 650 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Nayax by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 51,247 shares of the company's stock worth $1,517,000 after buying an additional 1,161 shares during the period. Bank of America Corp DE boosted its position in shares of Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock worth $44,000 after buying an additional 1,353 shares during the period. Swiss National Bank boosted its position in shares of Nayax by 17.6% in the first quarter. Swiss National Bank now owns 24,871 shares of the company's stock worth $838,000 after buying an additional 3,714 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in shares of Nayax in the fourth quarter worth about $217,000. 34.87% of the stock is currently owned by institutional investors and hedge funds.

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.