Zacks Research Upgrades Nayax (NASDAQ:NYAX) to “Hold”

Nayax (NASDAQ:NYAX) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

NYAX has been the topic of several other reports. Wall Street Zen lowered shares of Nayax from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. UBS Group lifted their target price on Nayax from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Nayax in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price target on Nayax from $47.00 to $52.00 and gave the company a “market perform” rating in a research note on Friday, January 2nd. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $49.00.

Nayax Stock Performance

NYAX opened at $57.94 on Monday. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 90.53 and a beta of 0.14. The business’s 50-day moving average price is $48.31 and its two-hundred day moving average price is $46.72. Nayax has a 1 year low of $32.38 and a 1 year high of $59.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.71 and a quick ratio of 1.62.

Nayax (NASDAQ:NYAX) last posted 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 return on equity of 6.51% and a net margin of 6.49%.The firm had revenue of $104.28 million for the quarter, compared to the consensus estimate of $109.51 million. Equities analysts expect that Nayax will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in Nayax by 210.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares during the period. Osaic Holdings Inc. acquired a new position in shares of Nayax in the second quarter valued at $33,000. Bank of America Corp DE raised its position in shares of Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after purchasing an additional 1,353 shares during the period. Alliancebernstein L.P. bought a new position in shares of Nayax in the third quarter valued at about $128,000. Finally, Ascent Group LLC acquired a new stake in shares of Nayax during the 4th quarter worth about $206,000. 34.87% of the stock is currently owned by institutional investors.

About Nayax

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.