Nayax (NASDAQ:NYAX) Upgraded to “Strong-Buy” at B. Riley

B. Riley upgraded shares of Nayax (NASDAQ:NYAX) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports. 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.

A number of other brokerages have also issued reports on NYAX. Barclays upped their target price on shares of Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods cut their price objective on shares of Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group raised shares of Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer started coverage on shares of Nayax in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.00.

Nayax Stock Performance

Shares of NYAX opened at $28.69 on Monday. The company has a market capitalization of $1.02 billion, a PE ratio of -88.00 and a beta of -0.08. Nayax has a one year low of $18.46 and a one year high of $30.99. 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 company’s fifty day moving average price is $26.63 and its 200 day moving average price is $24.86.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $83.01 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted ($0.09) EPS. As a group, analysts expect that Nayax will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Y.D. More Investments Ltd acquired a new stake in Nayax in the second quarter valued at $14,790,000. Swedbank AB increased its position in Nayax by 107.6% during the third quarter. Swedbank AB now owns 207,559 shares of the company’s stock worth $5,233,000 after acquiring an additional 107,559 shares during the period. Assenagon Asset Management S.A. increased its holdings in Nayax by 184.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock valued at $4,638,000 after buying an additional 115,262 shares during the period. Azora Capital LP increased its holdings in Nayax by 4.9% in the 3rd quarter. Azora Capital LP now owns 100,685 shares of the company’s stock valued at $2,583,000 after buying an additional 4,724 shares during the period. Finally, ARK Investment Management LLC increased its holdings in Nayax by 1.7% in the 3rd quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock valued at $2,261,000 after buying an additional 1,445 shares during the period. Institutional investors and hedge funds own 34.87% of the company’s stock.

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.