Nayax (NASDAQ:NYAX) Upgraded by Keefe, Bruyette & Woods to "Outperform" Rating

Key Points

• Keefe, Bruyette & Woods upgraded Nayax to “Outperform” from “Market Perform” and set a $75 price target, implying approximately 40.2% upside from the current price.
• Nayax shares rose 7.2%, while the broader analyst consensus remained “Hold,” with an average target price of $75.76. Ratings included four Buys, three Holds and one Sell.
• The company reported quarterly EPS of $0.14, beating estimates of $0.09, and revenue of $122.59 million versus expectations of $116.75 million.

Nayax (NASDAQ:NYAX - Get Free Report) was upgraded by stock analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a $75.00 target price on the stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 40.21% from the company's current price.

Several other equities analysts have also commented on NYAX. Wall Street Zen lowered shares of Nayax from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Barclays cut their target price on Nayax from $75.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Weiss Ratings raised Nayax from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Tuesday. Oppenheimer upgraded Nayax from a "market perform" rating to an "outperform" rating and set a $86.00 target price for the company in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $79.80 price target on shares of Nayax in a research note on Thursday, May 14th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Nayax has a consensus rating of "Hold" and a consensus target price of $75.76.

Nayax Stock Up 7.2%

Shares of NASDAQ:NYAX opened at $53.49 on Friday. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 254.71 and a beta of 0.47. Nayax has a 12-month low of $39.17 and a 12-month high of $76.86. The business has a 50-day moving average price of $65.65 and a 200 day moving average price of $62.78. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53.

Nayax (NASDAQ:NYAX - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The company had revenue of $122.59 million for the quarter, compared to analysts' expectations of $116.75 million. Nayax had a net margin of 1.74% and a return on equity of 14.98%. Sell-side analysts expect that Nayax will post 0.75 EPS for the current year.

Insider Activity

In other news, insider Oren Tepper sold 1,052 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $73.31, for a total transaction of $77,122.12. Following the completion of the transaction, the insider directly owned 19,392 shares of the company's stock, valued at approximately $1,421,627.52. The trade was a 5.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David Ben-Avi sold 16,590 shares of Nayax stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $76.48, for a total transaction of $1,268,803.20. Following the completion of the transaction, the insider owned 6,587,718 shares of the company's stock, valued at $503,828,672.64. This represents a 0.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,610 shares of company stock worth $3,159,903 over the last three months.

Hedge Funds Weigh In On Nayax

Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in Nayax by 9.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,894 shares of the company's stock valued at $197,000 after buying an additional 330 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Nayax by 210.5% in the 2nd 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 raised its position in shares of Nayax by 8.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,058 shares of the company's stock worth $407,000 after acquiring an additional 594 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of Nayax during the 2nd quarter worth about $33,000. Finally, Geode Capital Management LLC lifted its stake in Nayax by 2.0% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 34.87% of the company's stock.

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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