Nayax (NASDAQ:NYAX) Sees Large Volume Increase on Analyst Upgrade

Shares of Nayax Ltd. (NASDAQ:NYAX) saw strong trading volume on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $28.00 to $30.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. 13,808 shares changed hands during mid-day trading, an increase of 64% from the previous session’s volume of 8,416 shares.The stock last traded at $28.12 and had previously closed at $28.02.

A number of other analysts have also recently issued reports on the stock. Jefferies Financial Group upgraded shares of Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. B. Riley assumed coverage on shares of Nayax in a report on Tuesday, November 19th. They issued a “buy” rating and a $38.00 target price on the stock. Barclays raised their target price on shares of Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Oppenheimer initiated coverage on shares of Nayax in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Nayax presently has an average rating of “Moderate Buy” and a consensus target price of $31.25.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Y.D. More Investments Ltd bought a new position in Nayax during the second quarter valued at about $14,790,000. Swedbank AB lifted its holdings in Nayax by 107.6% during the third quarter. Swedbank AB now owns 207,559 shares of the company’s stock valued at $5,233,000 after purchasing an additional 107,559 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Nayax by 184.1% during the third quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock valued at $4,638,000 after purchasing an additional 115,262 shares during the last quarter. Azora Capital LP lifted its holdings in Nayax by 4.9% during the third quarter. Azora Capital LP now owns 100,685 shares of the company’s stock valued at $2,583,000 after purchasing an additional 4,724 shares during the last quarter. Finally, ARK Investment Management LLC lifted its holdings in shares of Nayax by 1.7% in the third quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock worth $2,261,000 after buying an additional 1,445 shares in the last quarter. Institutional investors and hedge funds own 34.87% of the company’s stock.

Nayax Stock Performance

The stock has a market capitalization of $992.17 million, a PE ratio of -90.26 and a beta of -0.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.16. The business’s fifty day moving average price is $27.61 and its 200-day moving average price is $25.01.

Nayax (NASDAQ:NYAX) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. The business had revenue of $83.01 million for the quarter, compared to the consensus estimate of $88.40 million. During the same quarter last year, the business posted ($0.09) earnings per share. As a group, equities research analysts expect that Nayax Ltd. will post -0.16 EPS for the current year.

Nayax Company Profile

Nayax Ltd., a fintech company, operates system and payment platform for multiple retailers in the United States, Europe, the United Kingdom, Australia, Israel, and rest of the world. The company offers AMIT 3.0, a machine-to-machine vending telemetry solution; Nayax Core, a management and monitoring software for vending machines and other unattended machines; MoMa, a mobile app for unattended machine; Tigapo back-office software suite, a cloud-based platform; EV Core, a smart, cloud-based management platform; Retail Management Cloud, a comprehensive attended retail management platform; Loyalty and Marketing Suite, a consumer engagement marketing and loyalty platform; Monyx Wallet, a digital wallet app enabling cashless payments with mobile phones; Weezmo, a consumer engagement and marketing platform; and Tigapo app, a proprietary mobile app to help family entertainment center businesses.