Nayax (NASDAQ:NYAX) Trading 3.3% Higher on 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) shot up 3.3% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $44.37 and last traded at $44.54. 8,852 shares were traded during mid-day trading, a decline of 21% from the average session volume of 11,207 shares. The stock had previously closed at $43.13.

The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.06. The business had revenue of $95.59 million during the quarter, compared to analyst estimates of $99.16 million. Nayax had a return on equity of 5.32% and a net margin of 6.06%. Nayax has set its FY 2025 guidance at EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NYAX. Keefe, Bruyette & Woods lifted their price objective 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. B. Riley reiterated a "buy" rating and issued a $47.00 price objective (up from $44.00) on shares of Nayax in a report on Wednesday, May 14th. UBS Group boosted their target price on Nayax from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Jefferies Financial Group restated a "buy" rating on shares of Nayax in a research report on Tuesday, May 13th. Finally, Wall Street Zen cut Nayax from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $42.00.

Institutional Trading of Nayax

A number of hedge funds have recently bought and sold shares of NYAX. Russell Investments Group Ltd. increased 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 worth $30,000 after acquiring an additional 400 shares in the last quarter. Bank of America Corp DE grew its position in Nayax by 920.4% during the 4th 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 in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Nayax in the fourth quarter valued at $217,000. Ascent Group LLC purchased a new stake in shares of Nayax in the second quarter valued at $220,000. Finally, Bosun Asset Management LLC acquired a new stake in shares of Nayax in the first quarter worth $332,000. 34.87% of the stock is owned by hedge funds and other institutional investors.

Nayax Stock Up 0.2%

The firm has a market cap of $1.64 billion, a PE ratio of 81.23 and a beta of 0.23. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.68 and a quick ratio of 1.59. The business has a fifty day moving average price of $45.57 and a two-hundred day moving average price of $41.17.

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.