Nayax (NASDAQ:NYAX) Research Coverage Started at B. Riley

B. Riley initiated coverage on shares of Nayax (NASDAQ:NYAX) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $38.00 price target on the stock. B. Riley also issued estimates for Nayax’s Q4 2024 earnings at $0.02 EPS, FY2024 earnings at ($0.17) EPS, FY2025 earnings at $0.57 EPS and FY2026 earnings at $1.30 EPS.

NYAX has been the topic of a number of other research reports. Oppenheimer started coverage on Nayax in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Jefferies Financial Group raised shares of Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods reduced their target price on shares of Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, Barclays raised their price target on shares of Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Four 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Nayax Stock Performance

NASDAQ:NYAX opened at $28.69 on Tuesday. Nayax has a twelve month low of $18.46 and a twelve month high of $30.99. The company has a market cap of $1.02 billion, a P/E ratio of -92.55 and a beta of -0.08. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $26.63 and its 200-day moving average price is $24.86.

Nayax (NASDAQ:NYAX) last released its earnings results on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $83.01 million for the quarter, compared to analyst estimates of $88.40 million. Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. During the same period last year, the company posted ($0.09) EPS. On average, sell-side analysts forecast that Nayax will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nayax

A number of hedge funds have recently made changes to their positions in NYAX. Y.D. More Investments Ltd acquired a new position in Nayax during the second quarter worth $14,790,000. Assenagon Asset Management S.A. boosted its holdings in Nayax by 184.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock valued at $4,638,000 after acquiring an additional 115,262 shares during the period. Swedbank AB grew its position in Nayax by 107.6% in the 3rd quarter. Swedbank AB now owns 207,559 shares of the company’s stock valued at $5,233,000 after acquiring an additional 107,559 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Nayax during the second quarter worth about $1,673,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of Nayax during the second quarter worth about $1,010,000. Hedge funds and other institutional investors own 34.87% of the company’s stock.

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.