Nayax (NASDAQ:NYAX) Shares Gap Up - Time to Buy?

Key Points

• Nayax shares opened 2.3% higher, rising from $42.63 to $43.62 and recently trading around $44.04, though still below the 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: Nayax has a consensus “Hold” rating and an average price target of $75.76, with recent upgrades from Keefe, Bruyette & Woods and Oppenheimer offset by a Barclays target reduction and a Weiss “Sell” downgrade.
• The company exceeded quarterly expectations, reporting $0.14 in earnings per share versus $0.09 expected and $122.59 million in revenue versus $116.75 million forecast. However, its valuation remains elevated at a P/E ratio above 211, while insiders have sold shares during the past quarter.

Shares of Nayax Ltd. (NASDAQ:NYAX - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $42.63, but opened at $43.62. Nayax shares last traded at $44.0410, with a volume of 6,818 shares.

Analyst Ratings Changes

NYAX has been the subject of several research analyst reports. Weiss Ratings lowered Nayax from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday. Barclays dropped 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, August 11th. Keefe, Bruyette & Woods upgraded Nayax from a "market perform" rating to an "outperform" rating and set a $75.00 price target for the company in a research note 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 research report on Wednesday, May 27th. Finally, UBS Group reiterated a "neutral" rating and issued a $70.00 price objective on shares of Nayax in a research note on Tuesday, August 11th. 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 stock. According to data from MarketBeat, Nayax currently has a consensus rating of "Hold" and an average price target of $75.76.

Nayax Trading Up 4.0%

The stock has a fifty day simple moving average of $55.58 and a 200 day simple moving average of $61.32. The firm has a market capitalization of $1.62 billion, a P/E ratio of 211.19 and a beta of 0.43. The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 1.43.

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

Insiders Place Their Bets

In other Nayax news, insider Gal Omer sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $45.17, for a total transaction of $67,755.00. Following the completion of the sale, the insider directly owned 18,539 shares of the company's stock, valued at $837,406.63. This trade represents a 7.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sagit Manor sold 1,252 shares of Nayax 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 sale, the chief financial officer owned 45,238 shares in the company, valued at approximately $3,019,184.12. The trade was a 2.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 4,713 shares of company stock valued at $273,324.

Institutional Trading of Nayax

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC bought a new stake in Nayax in the 2nd quarter worth approximately $650,000. Public Employees Retirement System of Ohio bought a new position in shares of Nayax during the 2nd quarter valued at approximately $239,000. Bank of America Corp DE boosted its position in shares of Nayax by 1,607.2% during the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company's stock valued at $519,000 after acquiring an additional 8,727 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in shares of Nayax by 5.0% in the first quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company's stock valued at $2,026,000 after purchasing an additional 1,731 shares in the last quarter. Finally, Y.D. More Investments Ltd increased its position in Nayax by 3.1% in the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company's stock worth $48,387,000 after purchasing an additional 25,694 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors.

Nayax Company Profile

Nayax Ltd. NASDAQ: NYAX is a global financial technology and commerce enablement company that provides payment processing, management software and business intelligence solutions for unattended and self-service markets. Its platform helps businesses accept and manage cashless transactions while monitoring equipment, customer activity and operational performance.

The company's products and services are used across industries including vending, electric vehicle charging, fuel and convenience retail, parking, laundromats, hospitality and other automated retail environments.

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