Research analysts at Keefe, Bruyette & Woods have increased their price target for Nayax Ltd. (NASDAQ: NYAX) from $47.00 to $52.00. The report, released on November 21, 2023, maintains a “market perform” rating on the stock, indicating a potential upside of approximately 2.24% from the current share price.
This adjustment follows a series of evaluations from other financial institutions. UBS Group raised its price target for Nayax from $43.00 to $48.00, assigning a “neutral” rating in its report on the same day. Contrastingly, Wall Street Zen downgraded Nayax from a “buy” rating to a “hold” rating on November 22. Meanwhile, Weiss Ratings maintained a “sell (d-)” rating on the stock, while Zacks Research downgraded it from “hold” to “strong sell” on November 20.
Currently, three analysts rate Nayax as a Buy, two as Hold, and two as Sell. According to data from MarketBeat.com, the stock has an average rating of “Hold” with a consensus price target set at $49.00.
Nayax’s Financial Performance and Analyst Expectations
On November 19, 2023, Nayax reported its quarterly earnings, revealing earnings per share (EPS) of $0.09. This figure fell short of analysts’ consensus estimates of $0.21 by $0.12. The company generated revenue of $104.28 million, which also did not meet expectations of $109.51 million. Nayax’s net margin stood at 6.49%, with a return on equity of 6.51%. Analysts anticipate that Nayax will report an EPS of -0.16 for the current fiscal year.
Recent activity among large investors has also impacted Nayax’s stock. Russell Investments Group Ltd. significantly increased its stake by 210.5% during the second quarter, now holding 590 shares valued at approximately $30,000 after acquiring an additional 400 shares. Osaic Holdings Inc. entered a new stake in Nayax valued at around $33,000 during the same period. Additionally, Bank of America Corp DE raised its holdings by 254.9% in the third quarter, owning 1,331 shares valued at $63,000 after purchasing an additional 956 shares.
Overall, institutional investors and hedge funds currently own 34.87% of Nayax’s stock.
About Nayax Ltd.
Founded in 2005 and headquartered in Israel, Nayax Ltd. is a global fintech company that specializes in cashless payment solutions and management services designed for unattended retail environments. The company develops robust hardware and software platforms that enable various payment methods, including credit and debit cards, mobile wallets, and contactless NFC transactions.
Nayax’s product lineup includes proprietary point-of-sale terminals such as the VPOS and Carbon series, complemented by the cloud-based management suite known as the Monyx platform. This diverse range of offerings positions Nayax as a significant player in the evolving landscape of cashless transactions.
In conclusion, Nayax continues to attract attention from analysts and investors alike, with a mix of ratings and price target adjustments reflecting the company’s current market performance and future potential.
