Nayax (NASDAQ:NYAX) Shares Gap Up After Strong Earnings

Nayax Ltd. (NASDAQ:NYAX) shares gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $48.84, but opened at $53.41. Nayax shares last traded at $52.6320, with a volume of 15,123 shares changing hands.

The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.19. Nayax had a net margin of 1.74% and a return on equity of 10.45%. The business had revenue of $128.04 million during the quarter, compared to analyst estimates of $134.35 million.

Wall Street Analyst Weigh In

A number of brokerages have commented on NYAX. UBS Group reiterated a “neutral” rating and issued a $70.00 price objective on shares of Nayax in a research report on Tuesday, August 11th. Weiss Ratings cut Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. Keefe, Bruyette & Woods upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Friday, August 14th. Jefferies Financial Group initiated coverage on Nayax in a research note on Wednesday, October 7th. They issued a “buy” rating and a $68.30 target price for the company. Finally, Barclays reduced their target price on Nayax from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.46.

Insider Transactions at Nayax

In related news, CEO Yair Nechmad bought 104,511 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was acquired at an average cost of $44.09 per share, with a total value of $4,607,889.99. Following the acquisition, the chief executive officer owned 7,433,558 shares in the company, valued at approximately $327,745,572.22. This represents a 1.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David Ben-Avi bought 1,554 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were bought at an average price of $43.18 per share, with a total value of $67,101.72. Following the transaction, the insider directly owned 6,591,702 shares in the company, valued at $284,629,692.36. This trade represents a 0.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 198,962 shares of company stock valued at $8,972,432 and sold 3,161 shares valued at $146,588.

Institutional Investors Weigh In On Nayax

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC bought a new stake in shares of Nayax in the 2nd quarter worth about $650,000. Bank of America Corp DE lifted its holdings in Nayax by 1,607.2% during the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock valued at $519,000 after purchasing an additional 8,727 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Nayax during the 2nd quarter valued at about $239,000. Finally, Altshuler Shaham Ltd boosted its position in Nayax by 5.0% in the first 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 in the last quarter. Institutional investors and hedge funds own 34.87% of the company’s stock.

Nayax Stock Performance

The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 245.00 and a beta of 0.46. The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 1.43. The stock’s 50-day simple moving average is $47.44 and its 200 day simple moving average is $58.12.

Nayax Company Profile

Nayax Ltd. is a financial technology and commerce platform company focused on unattended and self-service retail. Its offerings combine cashless payment processing with business management and consumer-engagement tools. The company provides payment devices and software that support cashless transactions, remote monitoring, sales reporting and loyalty programs. Its solutions serve operators in markets such as vending, self-service laundries, micro markets and other unattended retail settings. Founded in 2005 and headquartered in Israel, Nayax serves merchants and operators in markets around the world.