Nayax (NASDAQ:NYAX) Shares Gap Up on Analyst Upgrade

Shares of Nayax Ltd. (NASDAQ:NYAX) gapped up before the market opened on Tuesday after Barclays raised their price target on the stock from $23.00 to $28.00. The stock had previously closed at $26.04, but opened at $26.99. Barclays currently has an equal weight rating on the stock. Nayax shares last traded at $26.85, with a volume of 3,269 shares traded.

Several other equities research analysts also recently weighed in on NYAX. Keefe, Bruyette & Woods decreased their price objective on Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Oppenheimer assumed coverage on Nayax in a report on Tuesday, October 1st. They issued a “market perform” rating for the company.

Institutional Investors Weigh In On Nayax

Several hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Nayax in the first quarter valued at $9,170,000. Baillie Gifford & Co. purchased a new stake in Nayax during the 1st quarter worth about $1,302,000. Hood River Capital Management LLC purchased a new stake in Nayax during the 1st quarter worth about $102,000. Swedbank AB purchased a new stake in Nayax during the 1st quarter worth about $2,620,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Nayax in the 2nd quarter worth about $1,673,000. 34.87% of the stock is owned by institutional investors and hedge funds.

Nayax Trading Down 1.7 %

The business has a 50 day simple moving average of $24.48 and a 200-day simple moving average of $24.49. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $841.21 million, a price-to-earnings ratio of -55.67 and a beta of 0.03.

Nayax (NASDAQ:NYAX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $78.09 million during the quarter, compared to analyst estimates of $78.10 million. Nayax had a negative net margin of 5.34% and a negative return on equity of 11.18%. During the same period in the prior year, the firm earned ($0.12) earnings per share. On average, equities analysts predict that Nayax Ltd. will post -0.12 earnings per share for the current year.

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.