Oppenheimer Initiates Coverage on Nayax (NASDAQ:NYAX)

Oppenheimer initiated coverage on shares of Nayax (NASDAQ:NYAX) in a research note released on Tuesday, MarketBeat reports. The brokerage issued a market perform rating on the stock.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods decreased their price target on Nayax from $27.00 to $25.00 and set a market perform rating for the company in a research note on Thursday, August 8th. Barclays decreased their target price on Nayax from $27.00 to $23.00 and set an equal weight rating for the company in a research report on Monday, August 5th.

Nayax Price Performance

Shares of NYAX opened at $25.20 on Tuesday. Nayax has a fifty-two week low of $18.46 and a fifty-two week high of $30.99. The firm’s 50-day simple moving average is $23.91 and its two-hundred day simple moving average is $24.55. The stock has a market cap of $827.74 million, a PE ratio of -54.78 and a beta of 0.03. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.17 and a current ratio of 1.25.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Nayax had a negative return on equity of 11.18% and a negative net margin of 5.34%. The company had revenue of $78.09 million during the quarter, compared to analysts’ expectations of $78.10 million. During the same period in the prior year, the firm earned ($0.12) EPS. Analysts anticipate that Nayax will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nayax

A number of hedge funds have recently added to or reduced their stakes in NYAX. Y.D. More Investments Ltd purchased a new position in shares of Nayax in the 2nd quarter worth $14,790,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Nayax in the first quarter valued at about $9,170,000. Swedbank AB purchased a new position in Nayax in the first quarter worth about $2,620,000. Allspring Global Investments Holdings LLC purchased a new position in Nayax in the second quarter worth about $1,673,000. Finally, Baillie Gifford & Co. grew its stake in shares of Nayax by 1.2% during the 2nd quarter. Baillie Gifford & Co. now owns 50,086 shares of the company’s stock valued at $1,072,000 after purchasing an additional 616 shares during the period. 34.87% of the stock is currently owned by hedge funds and other institutional investors.

About Nayax

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.