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

Key Points

• Nayax shares gapped up premarket from $57.00 to $59.04 and were last trading around $58.99.
• Analyst views are mixed—3 Buy, 3 Hold and 1 Sell—with a MarketBeat average rating of "Hold" and an average price target of $51.67, below the current share price (KBW raised its target to $60 and William Blair rates it "Outperform").
• Nayax beat quarterly EPS estimates ($0.35 vs. $0.24) but slightly missed revenue forecasts, carries a high PE of 63.42, and analysts on average expect -0.16 EPS for the current year.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $57.00, but opened at $59.04. Nayax shares last traded at $58.99, with a volume of 6,672 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on NYAX. William Blair reissued an "outperform" rating on shares of Nayax in a report on Monday, March 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nayax in a research note on Thursday, January 22nd. Zacks Research raised shares of Nayax from a "strong sell" rating to a "hold" rating in a research note on Monday, January 19th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Nayax from $52.00 to $60.00 and gave the stock a "market perform" rating in a research note on Tuesday, March 10th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $51.67.

Nayax Stock Down 1.8%

The firm has a market cap of $2.15 billion, a PE ratio of 63.42 and a beta of 0.10. The business's 50 day moving average price is $56.63 and its 200 day moving average price is $51.08. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.26 and a quick ratio of 2.16.

Nayax (NASDAQ:NYAX - Get Free Report) last released its earnings results on Monday, March 9th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $119.45 million during the quarter, compared to analysts' expectations of $120.13 million. Nayax had a net margin of 8.87% and a return on equity of 11.60%. On average, equities research analysts expect that Nayax Ltd. will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On Nayax

A number of hedge funds have recently modified their holdings of NYAX. Bank of America Corp DE raised 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 valued at $44,000 after buying an additional 1,353 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of 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 buying an additional 89,886 shares during the last quarter. Geode Capital Management LLC raised its position 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 buying an additional 5,523 shares during the last quarter. Legal & General Group Plc raised its position 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 buying an additional 2,214 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position 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 buying an additional 400 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors and hedge funds.

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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