Nayax (NASDAQ:NYAX) Rating Lowered to “Buy” at Wall Street Zen

Nayax (NASDAQ:NYAX) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

Several other equities research analysts have also commented on NYAX. B. Riley reissued a “buy” rating and set a $47.00 price target (up previously from $44.00) on shares of Nayax in a research note on Wednesday, May 14th. William Blair upgraded shares of Nayax from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 1st. Jefferies Financial Group reiterated a “buy” rating on shares of Nayax in a research report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Nayax from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Nayax Stock Performance

Shares of Nayax stock opened at $45.51 on Friday. The firm has a market capitalization of $1.61 billion, a P/E ratio of -146.80 and a beta of 0.13. Nayax has a 52 week low of $20.31 and a 52 week high of $45.72. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $39.32 and its two-hundred day moving average is $35.49.

Nayax (NASDAQ:NYAX) last announced its earnings results on Tuesday, May 13th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. The company had revenue of $81.11 million during the quarter, compared to analysts’ expectations of $85.08 million. Research analysts forecast that Nayax will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB raised its holdings in shares of Nayax by 44.5% during the 4th quarter. Swedbank AB now owns 300,000 shares of the company’s stock valued at $8,748,000 after buying an additional 92,441 shares during the period. Y.D. More Investments Ltd increased its holdings in Nayax by 42.7% in the fourth quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock valued at $34,630,000 after buying an additional 354,350 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Nayax by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 51,247 shares of the company’s stock valued at $1,517,000 after acquiring an additional 1,161 shares during the last quarter. Verdence Capital Advisors LLC bought a new stake in Nayax during the fourth quarter valued at $326,000. Finally, JPMorgan Chase & Co. bought a new stake in Nayax during the fourth quarter valued at $1,581,000. 34.87% of the stock is owned by hedge funds and other institutional investors.

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.