Nayax (NASDAQ:NYAX) Shares Gap Up – What’s Next?

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $27.30, but opened at $28.80. Nayax shares last traded at $28.76, with a volume of 6,135 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NYAX shares. Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their target price on Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Barclays lifted their target price on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Oppenheimer assumed coverage on Nayax in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, B. Riley assumed coverage on Nayax in a research report on Tuesday. They issued a “buy” rating and a $38.00 target price for the company. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nayax has an average rating of “Moderate Buy” and an average price target of $30.00.

Nayax Stock Up 5.1 %

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -88.00 and a beta of -0.08. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $26.63 and a 200-day moving average of $24.86.

Nayax (NASDAQ:NYAX) last announced its earnings results on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $83.01 million for the quarter, compared to the consensus estimate of $88.40 million. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. During the same quarter in the previous year, the business earned ($0.09) EPS. As a group, sell-side analysts forecast that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Nayax

A number of hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC purchased a new position in shares of Nayax during the first quarter valued at $102,000. Swedbank AB acquired a new stake in shares of Nayax in the first quarter worth about $2,620,000. Baillie Gifford & Co. lifted its position in shares of Nayax by 1.2% during the 2nd quarter. Baillie Gifford & Co. now owns 50,086 shares of the company’s stock worth $1,072,000 after purchasing an additional 616 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Nayax during the 2nd quarter worth about $1,673,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Nayax by 16.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock worth $168,000 after purchasing an additional 1,099 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors and hedge funds.

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.