Nayax (NASDAQ:NYAX) Stock Price Up 19.1% - Time to Buy?

Key Points

• Shares jumped ~19.1% intraday to about $86 on Friday, but the move came on very light volume (1,104 shares traded, down ~93% from the average), indicating a volatile/low-liquidity price change.
• Analyst sentiment is mixed with a consensus rating of “Hold” and an average price target of $51.67 (3 Buy, 3 Hold, 1 Sell); the company beat EPS estimates ($0.35 vs. $0.24) while revenue slightly missed expectations.
• Insiders sold a small number of shares to cover tax obligations (CFO sold 1,754 shares; another insider sold 1,002), while institutional ownership is ~34.9% and notable buying includes Goldman Sachs adding ~89,886 shares.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) rose 19.1% during mid-day trading on Friday . The stock traded as high as $71.83 and last traded at $86.17. Approximately 1,104 shares were traded during trading, a decline of 93% from the average daily volume of 16,384 shares. The stock had previously closed at $72.35.

Analysts Set New Price Targets

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

Nayax Stock Performance

The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.16 and a current ratio of 2.26. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 76.47 and a beta of 0.39. The firm's 50 day simple moving average is $60.21 and its 200-day simple moving average is $53.31.

Nayax (NASDAQ:NYAX - Get Free Report) last posted its quarterly earnings results on Monday, March 9th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $119.45 million for the quarter, compared to the consensus estimate of $120.13 million. Nayax had a net margin of 8.87% and a return on equity of 11.60%. Analysts expect that Nayax Ltd. will post 0.84 EPS for the current year.

Insider Activity at Nayax

In related news, CFO Sagit Manor sold 1,754 shares of Nayax stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total transaction of $112,150.76. Following the sale, the chief financial officer directly owned 47,523 shares of the company's stock, valued at $3,038,620.62. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aaron Samuel Greenberg sold 1,002 shares of Nayax stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total value of $64,067.88. Following the sale, the insider directly owned 25,753 shares in the company, valued at approximately $1,646,646.82. This trade represents a 3.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 3,032 shares of company stock valued at $195,657.

Institutional Investors Weigh In On Nayax

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock worth $44,000 after purchasing an additional 1,353 shares during the period. Goldman Sachs Group Inc. lifted its stake in 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 purchasing an additional 89,886 shares during the period. Geode Capital Management LLC lifted its stake in Nayax by 19.7% during the second quarter. Geode Capital Management LLC now owns 33,511 shares of the company's stock worth $1,685,000 after purchasing an additional 5,523 shares during the period. Legal & General Group Plc lifted its stake in Nayax by 18.6% during the second quarter. Legal & General Group Plc now owns 14,087 shares of the company's stock worth $711,000 after purchasing an additional 2,214 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Nayax by 210.5% during the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company's stock worth $30,000 after purchasing an additional 400 shares during the period. 34.87% of the stock is owned by institutional investors and hedge funds.

Nayax Company Profile

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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