Nayax (NASDAQ:NYAX) Sets New 52-Week High – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $59.85 and last traded at $59.08, with a volume of 3045 shares traded. The stock had previously closed at $59.38.

Analysts Set New Price Targets

NYAX has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nayax in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Nayax from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. UBS Group raised their target price on Nayax from $43.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Zacks Research downgraded Nayax from a “hold” rating to a “strong sell” rating in a report on Thursday, November 20th. Finally, Keefe, Bruyette & Woods increased their price objective on Nayax from $47.00 to $52.00 and gave the stock a “market perform” rating in a research note on Friday, January 2nd. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $49.00.

Nayax Price Performance

The company has a quick ratio of 1.62, a current ratio of 1.71 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average price is $47.95 and its two-hundred day moving average price is $46.67. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 90.53 and a beta of 0.14.

Nayax (NASDAQ:NYAX) last released its quarterly earnings data on Wednesday, November 19th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). Nayax had a net margin of 6.49% and a return on equity of 6.51%. The firm had revenue of $104.28 million for the quarter, compared to analyst estimates of $109.51 million. Analysts anticipate 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 added to or reduced their stakes in the company. Ascent Group LLC bought a new position in Nayax during the fourth quarter valued at approximately $206,000. Assenagon Asset Management S.A. increased its stake in shares of Nayax by 57.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 198,714 shares of the company’s stock worth $10,044,000 after purchasing an additional 72,354 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Nayax during the 3rd quarter worth $223,000. Bank of America Corp DE raised its holdings in shares of Nayax by 254.9% during the 3rd quarter. Bank of America Corp DE now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 956 shares in the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in shares of Nayax in the 3rd quarter valued at $128,000. Institutional investors and hedge funds own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.