Nayax (NASDAQ:NYAX) Shares Gap Up - Still a Buy?

Shares of Nayax Ltd. (NASDAQ:NYAX - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $30.67, but opened at $32.86. Nayax shares last traded at $32.86, with a volume of 1,093 shares trading hands.

Analyst Ratings Changes

A number of research analysts have weighed in on NYAX shares. Barclays raised their target price on shares of Nayax from $23.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. Jefferies Financial Group raised Nayax from a "hold" rating to a "buy" rating in a research note on Wednesday, October 30th. Oppenheimer assumed coverage on Nayax in a research note on Tuesday, October 1st. They issued a "market perform" rating for the company. Keefe, Bruyette & Woods boosted their price target on shares of Nayax from $28.00 to $30.00 and gave the company a "market perform" rating in a research report on Monday, December 9th. Finally, B. Riley assumed coverage on shares of Nayax in a research report on Tuesday, November 19th. They set a "buy" rating and a $38.00 price objective for the company. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $31.25.

Nayax Stock Up 9.4 %

The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -108.22 and a beta of -0.03. The business has a 50-day moving average of $28.43 and a 200-day moving average of $25.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25.

Nayax (NASDAQ:NYAX - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. The firm had revenue of $83.01 million during the quarter, compared to analysts' expectations of $88.40 million. During the same quarter last year, the company posted ($0.09) EPS. On average, sell-side analysts expect that Nayax Ltd. will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Nayax

Several hedge funds have recently bought and sold shares of the company. Y.D. More Investments Ltd purchased a new position in shares of Nayax in the second quarter valued at approximately $14,790,000. Swedbank AB boosted its position in Nayax by 107.6% in the 3rd quarter. Swedbank AB now owns 207,559 shares of the company's stock valued at $5,233,000 after buying an additional 107,559 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Nayax by 184.1% in the third quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company's stock worth $4,638,000 after acquiring an additional 115,262 shares in the last quarter. Azora Capital LP increased its position in shares of Nayax by 4.9% during the third quarter. Azora Capital LP now owns 100,685 shares of the company's stock worth $2,583,000 after acquiring an additional 4,724 shares during the period. Finally, ARK Investment Management LLC raised its stake in shares of Nayax by 1.7% in the third quarter. ARK Investment Management LLC now owns 86,869 shares of the company's stock valued at $2,261,000 after acquiring an additional 1,445 shares in the last quarter. Institutional investors and hedge funds own 34.87% of the company's stock.

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.