Nayax (NASDAQ:NYAX) Shares Gap Up After Analyst Upgrade

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped up prior to trading on Tuesday after Barclays raised their price target on the stock from $23.00 to $28.00. The stock had previously closed at $26.04, but opened at $26.99. Barclays currently has an equal weight rating on the stock. Nayax shares last traded at $26.85, with a volume of 3,269 shares.

Several other brokerages also recently commented on NYAX. Oppenheimer initiated coverage on Nayax in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods lowered their price target on Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th.

Institutional Investors Weigh In On Nayax

Several institutional investors and hedge funds have recently added to or reduced their stakes in NYAX. Y.D. More Investments Ltd bought a new position in shares of Nayax in the second quarter valued at approximately $14,790,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Nayax during the 1st quarter worth $9,170,000. Swedbank AB purchased a new position in shares of Nayax in the 1st quarter worth about $2,620,000. Allspring Global Investments Holdings LLC bought a new position in Nayax during the second quarter valued at about $1,673,000. Finally, Baillie Gifford & Co. purchased a new stake in Nayax during the first quarter worth about $1,302,000. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Nayax Trading Down 1.3 %

The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The firm has a market cap of $844.50 million, a P/E ratio of -55.89 and a beta of 0.03. The firm’s 50-day simple moving average is $24.38 and its 200 day simple moving average is $24.49.

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