Nayax (NASDAQ:NYAX) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Nayax from a “strong sell” to a “hold,” adding to a mixed analyst picture that currently averages a “hold” rating with a consensus price target of $78.95.
• Nayax recently reported Q1 earnings of $0.03 per share, below expectations of $0.08, while revenue came in at $106.86 million, slightly above estimates.
• Insider selling has been notable, with the president and CEO both selling shares in recent weeks; insiders have sold 50,385 shares worth about $3.66 million over the last three months.

Nayax (NASDAQ:NYAX - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

NYAX has been the topic of several other reports. William Blair reiterated an "outperform" rating on shares of Nayax in a research note on Monday, March 9th. UBS Group upped their price target on Nayax from $68.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Keefe, Bruyette & Woods increased their price target on Nayax from $60.00 to $75.00 and gave the stock a "market perform" rating in a report on Wednesday, May 13th. Oppenheimer upgraded shares of Nayax from a "market perform" rating to an "outperform" rating and set a $86.00 price objective on the stock in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group restated a "buy" rating and set a $79.80 price objective on shares of Nayax in a research report on Thursday, May 14th. Three 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $78.95.

Nayax Price Performance

Shares of NASDAQ:NYAX opened at $70.22 on Wednesday. Nayax has a one year low of $39.17 and a one year high of $76.86. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 88.89 and a beta of 0.47. The company has a 50-day simple moving average of $67.74 and a 200-day simple moving average of $59.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.99.

Nayax (NASDAQ:NYAX - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.05). The company had revenue of $106.86 million for the quarter, compared to analysts' expectations of $105.64 million. Nayax had a return on equity of 14.09% and a net margin of 6.95%. On average, analysts predict that Nayax will post 0.73 EPS for the current year.

Insider Activity

In other Nayax news, President Keren Sharir sold 4,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $71.80, for a total value of $323,100.00. Following the completion of the transaction, the president owned 26,876 shares in the company, valued at approximately $1,929,696.80. This represents a 14.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Carly Lisanne Furman sold 1,753 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $73.31, for a total value of $128,512.43. Following the completion of the sale, the chief executive officer directly owned 21,821 shares of the company's stock, valued at approximately $1,599,697.51. This trade represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 50,385 shares of company stock valued at $3,659,391 over the last three months.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NYAX. Public Employees Retirement System of Ohio raised its stake in shares of Nayax by 9.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,894 shares of the company's stock worth $197,000 after buying an additional 330 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Nayax by 210.5% during the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company's stock valued at $30,000 after acquiring an additional 400 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Nayax by 8.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,058 shares of the company's stock valued at $407,000 after acquiring an additional 594 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in Nayax during the 2nd quarter worth about $33,000. Finally, Geode Capital Management LLC increased its position in Nayax by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 36,139 shares of the company's stock worth $1,825,000 after purchasing an additional 715 shares in 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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