Nayax (NASDAQ:NYAX) Shares Gap Up – Should You Buy?

Nayax Ltd. (NASDAQ:NYAX) gapped up prior to trading on Thursday . The stock had previously closed at $27.30, but opened at $28.80. Nayax shares last traded at $28.76, with a volume of 6,135 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NYAX shares. Oppenheimer started coverage on Nayax in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Jefferies Financial Group raised Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Barclays raised their price target on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods cut their price target on Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Finally, B. Riley initiated coverage on Nayax in a research note on Tuesday. They set a “buy” rating and a $38.00 target price on the stock. Four investment 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’s stock. According to data from MarketBeat, Nayax has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Nayax Price Performance

The firm has a 50 day simple moving average of $26.72 and a two-hundred day simple moving average of $24.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25. The stock has a market cap of $1.02 billion, a P/E ratio of -92.55 and a beta of -0.08.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, topping 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 company had revenue of $83.01 million for the quarter, compared to the consensus estimate of $88.40 million. During the same quarter in the previous year, the business earned ($0.09) EPS. Equities research analysts predict that Nayax Ltd. will post -0.16 earnings per share for the current year.

Institutional Trading of Nayax

A number of hedge funds and other institutional investors have recently modified their holdings of NYAX. Barclays PLC raised its stake in shares of Nayax by 5,526.8% in the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock worth $58,000 after buying an additional 2,266 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Nayax in the 3rd quarter worth $69,000. Hood River Capital Management LLC acquired a new position in shares of Nayax in the 1st quarter worth $102,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Nayax by 16.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock worth $168,000 after acquiring an additional 1,099 shares during the last quarter. Finally, Ingalls & Snyder LLC acquired a new position in shares of Nayax in the 2nd quarter worth $229,000. Institutional investors 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.