Nayax (NASDAQ:NYAX) Raised to Strong-Buy at Jefferies Financial Group

Nayax (NASDAQ:NYAX) was upgraded by stock analysts at Jefferies Financial Group to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

NYAX has been the topic of several other reports. Barclays reduced their target price on Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 11th. 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 upgraded shares of Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Friday, August 14th. UBS Group reissued a “neutral” rating and issued a $70.00 target price on shares of Nayax in a report on Tuesday, August 11th. Finally, Weiss Ratings cut shares of Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $73.46.

Nayax Trading Down 3.5%

Shares of NYAX stock opened at $46.61 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 1.43. The stock has a market cap of $1.71 billion, a P/E ratio of 221.95 and a beta of 0.46. The stock has a 50 day simple moving average of $51.39 and a 200 day simple moving average of $60.46. Nayax has a 1 year low of $39.17 and a 1 year high of $76.86.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Nayax had a return on equity of 10.45% and a net margin of 1.74%.The business had revenue of $122.59 million for the quarter, compared to the consensus estimate of $116.75 million. On average, research analysts predict that Nayax will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nayax news, insider Gal Omer sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $45.17, for a total transaction of $67,755.00. Following the sale, the insider owned 18,539 shares of the company’s stock, valued at approximately $837,406.63. The trade was a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Yair Nechmad purchased 44,148 shares of the stock in a transaction dated Wednesday, September 30th. The shares were bought at an average price of $47.84 per share, with a total value of $2,112,040.32. Following the completion of the acquisition, the chief executive officer directly owned 7,524,641 shares of the company’s stock, valued at approximately $359,978,825.44. This represents a 0.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 198,962 shares of company stock valued at $8,972,432 and have sold 3,161 shares valued at $152,241.

Hedge Funds Weigh In On Nayax

A number of institutional investors and hedge funds have recently bought and sold shares of NYAX. Public Employees Retirement System of Ohio bought a new position in Nayax in the second quarter valued at about $239,000. Bank of America Corp DE grew 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 last quarter. Tidal Investments LLC acquired a new position in shares of Nayax in the second quarter valued at approximately $650,000. Altshuler Shaham Ltd increased its stake in shares of Nayax by 140.0% in the fourth quarter. Altshuler Shaham Ltd now owns 34,489 shares of the company’s stock valued at $1,742,000 after buying an additional 20,121 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Nayax by 36.4% in the first 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 period. Institutional investors and hedge funds own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd. is a global financial technology company that provides payment acceptance, management, and loyalty solutions for unattended and automated commerce. Its platform enables businesses to accept cashless payments through card readers, mobile wallets, and other digital payment methods while managing transactions and customer interactions through cloud-based software.

The company serves industries including vending, electric vehicle charging, parking, laundromats, kiosks, fuel stations, and other automated retail environments.