Research analysts at Keefe, Bruyette & Woods have increased their price target for Nayax Ltd. (NASDAQ: NYAX) from $47.00 to $52.00. This adjustment was reported on November 21, 2023, and suggests a potential upside of approximately 2.24% from the stock’s current trading price. The firm has assigned a “market perform” rating to Nayax’s stock, reflecting a cautious optimism.
Other financial institutions have also weighed in on Nayax’s stock. UBS Group revised its price target from $43.00 to $48.00, maintaining a “neutral” rating in their analysis released on the same day. In contrast, Wall Street Zen downgraded Nayax from a “buy” to a “hold” rating on November 22, 2023. Additionally, Weiss Ratings reiterated a “sell (d-)” rating on October 8, 2023, and Zacks Research also downgraded Nayax from “hold” to “strong sell” on November 20, 2023. Overall, three investment analysts have given Nayax a “buy” rating, two have issued a “hold,” and two have recommended selling, resulting in an average rating of “hold” and a consensus price target of $49.00, according to data from MarketBeat.com.
Recent Earnings and Analyst Expectations
Nayax recently announced its quarterly earnings on November 19, 2023. The company reported earnings per share (EPS) of $0.09, falling short of analysts’ expectations, which estimated an EPS of $0.21. Revenue for the quarter reached $104.28 million, compared to analyst forecasts of $109.51 million. The net margin was recorded at 6.49%, with a return on equity of 6.51%. Analysts project Nayax will report an EPS of -0.16 for the current fiscal year.
Institutional Investor Activity
Recent activity among large investors indicates growing interest in Nayax. Russell Investments Group Ltd. increased its stake in Nayax by 210.5% during the second quarter, now holding 590 shares valued at approximately $30,000. Osaic Holdings Inc. also acquired a new stake valued at around $33,000 in the same period.
Furthermore, Bank of America Corp DE raised its holdings in Nayax by 254.9% during the third quarter, now owning 1,331 shares valued at about $63,000. Other notable investors include AllianceBernstein L.P., which purchased a new position worth approximately $128,000, and Ascent Group LLC, acquiring a position valued around $220,000. Currently, institutional investors and hedge funds hold 34.87% of Nayax’s stock.
Founded in 2005 and headquartered in Israel, Nayax is a global fintech company specializing in cashless payment solutions for unattended retail environments. The company develops both hardware and software platforms that facilitate a wide range of payment methods, including credit and debit cards, mobile wallets, and contactless transactions. Its product offerings include proprietary point-of-sale terminals and a cloud-based management suite known as the Monyx platform.
As Nayax continues to navigate the financial landscape, analysts and investors alike will be closely monitoring its performance and any further updates from financial institutions regarding its stock ratings.
