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

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped up before the market opened on Monday . The stock had previously closed at $64.36, but opened at $67.02. Nayax shares last traded at $67.40, with a volume of 1,503 shares.

Analyst Ratings Changes

Several analysts have issued reports on NYAX shares. Zacks Research raised shares of Nayax from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods boosted their target price on shares of Nayax from $60.00 to $75.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. UBS Group upped their target price on shares of Nayax from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Jefferies Financial Group restated a “buy” rating and issued a $79.80 target price on shares of Nayax in a research note on Thursday, May 14th. Finally, Wall Street Zen lowered shares of Nayax from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $78.16.

Nayax Stock Up 4.7%

The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 85.28 and a beta of 0.47. The stock has a 50 day moving average of $67.00 and a 200 day moving average of $61.45.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). Nayax had a net margin of 6.95% and a return on equity of 14.09%. The firm had revenue of $106.86 million for the quarter, compared to analyst estimates of $105.64 million. As a group, analysts expect that Nayax Ltd. will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Sagit Manor sold 1,252 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $66.74, for a total transaction of $83,558.48. Following the sale, the chief financial officer directly owned 45,238 shares of the company’s stock, valued at approximately $3,019,184.12. This represents a 2.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Oren Tepper sold 1,052 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $73.31, for a total value of $77,122.12. Following the sale, the insider directly owned 19,392 shares in the company, valued at approximately $1,421,627.52. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 50,385 shares of company stock worth $3,659,391.

Institutional Trading of Nayax

A number of institutional investors and hedge funds have recently modified their holdings of NYAX. Bank of America Corp DE raised its holdings in shares of Nayax by 1,607.2% during the first quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock worth $519,000 after purchasing an additional 8,727 shares during the period. Altshuler Shaham Ltd boosted its holdings in shares of Nayax by 5.0% in the 1st quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock valued at $2,026,000 after buying an additional 1,731 shares during the period. Y.D. More Investments Ltd boosted its holdings in shares of Nayax by 3.1% in the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock valued at $48,387,000 after buying an additional 25,694 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Nayax by 36.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock valued at $15,195,000 after buying an additional 72,357 shares during the last quarter. Finally, Amundi bought a new stake in shares of Nayax during the 4th quarter valued at about $302,000. 34.87% of the stock is owned by institutional investors and hedge funds.

Nayax Company Profile

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.