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

Key Points

• Nayax shares opened 3.3% higher, rising from $52.06 to $53.80 before trading around $53.50.
• Analyst sentiment remains mixed: Keefe, Bruyette & Woods upgraded the stock to “outperform,” while the consensus rating is “Hold” with an average price target of $75.76.
• Nayax exceeded quarterly expectations, reporting $0.14 in EPS versus the $0.09 consensus 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 $52.06, but opened at $53.80. Nayax shares last traded at $53.4990, with a volume of 8,227 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NYAX. Keefe, Bruyette & Woods upgraded shares of Nayax from a "market perform" rating to an "outperform" rating and set a $75.00 target price for the company in a research report on Friday, August 14th. UBS Group reissued a "neutral" rating and set a $70.00 price objective on shares of Nayax in a research note on Tuesday, August 11th. 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. Zacks Research raised Nayax from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised Nayax from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Nayax currently has a consensus rating of "Hold" and an average price target of $75.76.

Nayax Trading Up 2.4%

The business's fifty day moving average price is $61.87 and its 200 day moving average price is $62.18. The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $1.95 billion, a PE ratio of 253.83 and a beta of 0.47.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Nayax had a net margin of 1.74% and a return on equity of 10.45%. The business had revenue of $122.59 million for the quarter, compared to the consensus estimate of $116.75 million. As a group, analysts expect that Nayax Ltd. will post 0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Carly Lisanne Furman sold 382 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $68.08, for a total transaction of $26,006.56. Following the completion of the transaction, the chief executive officer owned 21,439 shares of the company's stock, valued at $1,459,567.12. This represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sagit Manor sold 1,252 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $66.74, for a total transaction of $83,558.48. Following the completion of the sale, the chief financial officer owned 45,238 shares of the company's stock, valued at approximately $3,019,184.12. The trade was a 2.69% decrease in their ownership of the stock. 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 4,255 shares of company stock valued at $282,739 in the last quarter.

Hedge Funds Weigh In On Nayax

A number of large investors have recently bought and sold shares of NYAX. Bank of America Corp DE grew its stake in shares of Nayax by 920.4% during the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock valued at $44,000 after buying an additional 1,353 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Nayax by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company's stock worth $9,966,000 after buying an additional 89,886 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Nayax by 19.7% in the 2nd quarter. Geode Capital Management LLC now owns 33,511 shares of the company's stock worth $1,685,000 after buying an additional 5,523 shares during the period. Legal & General Group Plc raised its position in shares of Nayax by 18.6% in the 2nd quarter. Legal & General Group Plc now owns 14,087 shares of the company's stock worth $711,000 after buying an additional 2,214 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Nayax by 210.5% in 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. Hedge funds and other institutional investors own 34.87% of the company's stock.

Nayax Company Profile

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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