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

Key Points

• Nayax shares jumped from a $46.33 close to a $49.00 open, recently trading around $48.41. The stock remains below its 200-day moving average of $59.84 and has a high P/E ratio of 232.09.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $73.46. Recent updates included Buy and Outperform upgrades, although UBS retained a Neutral rating and Weiss Ratings maintained a Sell rating.
• Nayax exceeded quarterly expectations, reporting $0.14 EPS versus $0.09 expected and revenue of $122.59 million versus the $116.75 million consensus. Insider activity was largely positive, with executives acquiring nearly 199,000 shares in the last quarter.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report)'s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $46.33, but opened at $49.00. Nayax shares last traded at $48.4060, with a volume of 12,410 shares.

Analyst Ratings Changes

NYAX has been the topic of a number of research reports. Jefferies Financial Group began coverage on shares of Nayax in a report on Wednesday, October 7th. They issued a "buy" rating and a $68.30 target price on the stock. Keefe, Bruyette & Woods raised shares of Nayax from a "market perform" rating to an "outperform" rating and set a $75.00 price target for the company in a report on Friday, August 14th. Zacks Research upgraded Nayax from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 1st. UBS Group reaffirmed a "neutral" rating and issued a $70.00 price objective on shares of Nayax in a research note on Tuesday, August 11th. Finally, Weiss Ratings lowered Nayax from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.46.

Nayax Price Performance

The company has a market capitalization of $1.78 billion, a P/E ratio of 232.09 and a beta of 0.46. The firm's fifty day moving average is $47.83 and its 200 day moving average is $59.84. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.03 and a current ratio of 2.12.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its earnings results 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 return on equity of 10.45% and a net margin of 1.74%. The business had revenue of $122.59 million during the quarter, compared to analyst estimates of $116.75 million. As a group, analysts predict that Nayax Ltd. will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Nayax

In other Nayax news, CEO Yair Nechmad bought 104,511 shares of Nayax stock in a transaction on Thursday, September 24th. The shares were acquired at an average price of $44.09 per share, for a total transaction of $4,607,889.99. Following the completion of the purchase, the chief executive officer directly owned 7,433,558 shares in the company, valued at approximately $327,745,572.22. This trade represents a 1.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gal Omer sold 1,500 shares of Nayax stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $45.17, for a total value of $67,755.00. Following the sale, the insider owned 18,539 shares of the company's stock, valued at approximately $837,406.63. This trade represents a 7.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders acquired 198,962 shares of company stock worth $8,972,432 and sold 3,161 shares worth $152,241.

Institutional Trading of Nayax

A number of large investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd raised its holdings in shares of Nayax by 5.0% in the 1st 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. Public Employees Retirement System of Ohio purchased a new stake in shares of Nayax in the 2nd quarter worth approximately $239,000. Bank of America Corp DE lifted its position in shares of Nayax by 1,607.2% in the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company's stock worth $519,000 after purchasing an additional 8,727 shares during the period. Tidal Investments LLC bought a new position in shares of Nayax during the second quarter valued at approximately $650,000. Finally, Y.D. More Investments Ltd boosted its stake in shares of Nayax by 3.1% during the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company's stock valued at $48,387,000 after purchasing an additional 25,694 shares in the last quarter. 34.87% of the stock is owned by hedge funds and other institutional investors.

About Nayax

Nayax Ltd. is a global financial technology company that provides payment acceptance, management, and loyalty solutions for unattended and automated commerce. Its platform enables businesses to accept cashless payments through card readers, mobile wallets, and other digital payment methods while managing transactions and customer interactions through cloud-based software.

The company serves industries including vending, electric vehicle charging, parking, laundromats, kiosks, fuel stations, and other automated retail environments.

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