Nayax (NASDAQ:NYAX) Stock Price Up 3.3% After Better-Than-Expected Earnings

Key Points

• Nayax Ltd. reported a quarterly earnings per share of $0.16, beating the consensus estimate by $0.06, which contributed to a 3.3% rise in stock price.
• Despite the positive earnings, the company's revenue of $95.59 million fell short of analysts' expectations of $99.16 million.
• Several analysts have recently upgraded their ratings on Nayax shares, with B. Riley setting a target price of $47.00 and Keefe, Bruyette & Woods targeting $50.00.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report)'s stock price rose 3.3% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $44.37 and last traded at $44.54. Approximately 8,852 shares changed hands during trading, a decline of 21% from the average daily volume of 11,207 shares. The stock had previously closed at $43.13.

The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.06. The business had revenue of $95.59 million for the quarter, compared to analysts' expectations of $99.16 million. Nayax had a net margin of 1.96% and a return on equity of 0.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NYAX shares. B. Riley reaffirmed a "buy" rating and set a $47.00 target price (up previously from $44.00) on shares of Nayax in a research note on Wednesday, May 14th. Keefe, Bruyette & Woods lifted their target price on shares of Nayax from $40.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Wall Street Zen lowered shares of Nayax from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Nayax in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Institutional Investors Weigh In On Nayax

Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in Nayax by 210.5% in the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company's stock worth $30,000 after buying an additional 400 shares during the last quarter. Bank of America Corp DE lifted its position in Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock valued at $44,000 after purchasing an additional 1,353 shares during the period. Ascent Group LLC bought a new position in Nayax during the second quarter valued at approximately $220,000. Vanguard Personalized Indexing Management LLC bought a new position in Nayax during the second quarter valued at approximately $340,000. Finally, Citadel Advisors LLC bought a new position in Nayax during the fourth quarter valued at approximately $217,000. Institutional investors own 34.87% of the company's stock.

Nayax Trading Up 3.2%

The company has a market cap of $1.58 billion, a P/E ratio of 247.46 and a beta of 0.23. The stock's 50-day moving average is $45.53 and its two-hundred day moving average is $40.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.67.

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.

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