Nayax (NASDAQ:NYAX) Shares Gap Up - Here's What Happened

Key Points

• Nayax shares jumped sharply, opening at $52.28 versus a prior close of $46.18 and later trading at $52.77.
• Analyst sentiment improved, with several firms upgrading the stock; however, the overall consensus remains “Hold” with an average price target of $75.76.
• Nayax exceeded quarterly expectations, reporting $0.14 in earnings per share versus a $0.09 estimate and revenue of $122.59 million versus $116.75 million expected.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $46.18, but opened at $52.28. Nayax shares last traded at $52.77, with a volume of 38,864 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently commented on NYAX. Jefferies Financial Group reaffirmed a "buy" rating and set a $79.80 price objective on shares of Nayax in a report on Thursday, May 14th. Keefe, Bruyette & Woods upgraded Nayax from a "market perform" rating to an "outperform" rating and set a $75.00 target price on the stock in a report on Friday, August 14th. Oppenheimer raised shares of Nayax from a "market perform" rating to an "outperform" rating and set a $86.00 price target for the company in a report on Wednesday, May 27th. Zacks Research raised Nayax from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings upgraded Nayax from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $75.76.

Nayax Price Performance

The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 250.31 and a beta of 0.47. The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 1.43. The company has a 50 day moving average of $63.11 and a 200 day moving average of $62.30.

Nayax (NASDAQ:NYAX - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Nayax had a return on equity of 10.45% and a net margin of 1.74%.The firm had revenue of $122.59 million for the quarter, compared to analyst estimates of $116.75 million. Equities research analysts predict that Nayax Ltd. will post 0.75 EPS for the current fiscal year.

Insider Activity at Nayax

In related news, insider Eden Zafrani sold 500 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $64.89, for a total transaction of $32,445.00. Following the completion of the transaction, the insider directly owned 14,869 shares in the company, valued at approximately $964,849.41. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Carly Lisanne Furman sold 382 shares of Nayax stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $68.08, for a total value of $26,006.56. Following the completion of the sale, the chief executive officer directly owned 21,439 shares in the company, valued at approximately $1,459,567.12. This represents a 1.75% 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 42,148 shares of company stock valued at $3,129,268 over the last three months.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NYAX. Legato Capital Management LLC bought a new position in Nayax in the fourth quarter valued at approximately $1,072,000. Y.D. More Investments Ltd lifted its stake in shares of Nayax by 3.1% during the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company's stock worth $48,387,000 after buying an additional 25,694 shares during the last quarter. Altshuler Shaham Ltd lifted its holdings in Nayax by 140.0% during the 4th quarter. Altshuler Shaham Ltd now owns 34,489 shares of the company's stock worth $1,742,000 after purchasing an additional 20,121 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Nayax by 36.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company's stock worth $15,195,000 after purchasing an additional 72,357 shares in the last quarter. Finally, AltraVue Capital LLC bought a new stake in shares of Nayax in the fourth quarter valued at approximately $11,623,000. 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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