Nayax (NASDAQ:NYAX) Trading 6.9% Higher - Time to Buy?

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) shares traded up 6.9% during mid-day trading on Friday . The stock traded as high as $45.68 and last traded at $48.56. 130 shares traded hands during trading, a decline of 99% from the average session volume of 11,437 shares. The stock had previously closed at $45.44.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NYAX shares. Wall Street Zen cut shares of Nayax from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. Keefe, Bruyette & Woods upped their price objective on Nayax from $40.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Nayax in a research report on Tuesday, May 13th. William Blair raised Nayax from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 1st. Finally, B. Riley restated a "buy" rating and issued a $47.00 price objective (up previously from $44.00) on shares of Nayax in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Nayax Stock Performance

The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 251.65 and a beta of 0.24. The company has a fifty day moving average of $44.80 and a two-hundred day moving average of $39.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.67 and a current ratio of 1.76.

Nayax (NASDAQ:NYAX - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $81.11 million for the quarter, compared to analyst estimates of $85.08 million. Nayax had a return on equity of 0.23% and a net margin of 1.96%. As a group, equities research analysts predict that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nayax

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new position in shares of Nayax in the 4th quarter valued at $1,581,000. Geode Capital Management LLC increased its stake in shares of Nayax by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 27,976 shares of the company's stock valued at $828,000 after purchasing an additional 650 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of Nayax by 144.6% in the 4th quarter. Hood River Capital Management LLC now owns 14,118 shares of the company's stock valued at $412,000 after purchasing an additional 8,346 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Nayax in the 4th quarter valued at $351,000. Finally, Bank of America Corp DE increased its stake in shares of Nayax by 920.4% in the 4th 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 last quarter. Institutional investors own 34.87% of the company's stock.

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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