Oppenheimer Initiates Coverage on Nayax (NASDAQ:NYAX)

Investment analysts at Oppenheimer initiated coverage on shares of Nayax (NASDAQ:NYAX) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “market perform” rating on the stock.

Other equities research analysts also recently issued reports about the stock. Barclays lowered their price objective on shares of Nayax from $27.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Keefe, Bruyette & Woods lowered their price objective on shares of Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th.

Nayax Stock Performance

Nayax stock opened at $25.38 on Tuesday. The company has a 50 day moving average price of $23.86 and a 200-day moving average price of $24.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.17 and a current ratio of 1.25. Nayax has a fifty-two week low of $18.46 and a fifty-two week high of $30.99. The company has a market capitalization of $833.66 million, a PE ratio of -55.17 and a beta of 0.03.

Nayax (NASDAQ:NYAX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Nayax had a negative return on equity of 11.18% and a negative net margin of 5.34%. The firm had revenue of $78.09 million during the quarter, compared to analysts’ expectations of $78.10 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. As a group, equities analysts forecast that Nayax will post -0.13 earnings per share for the current year.

Institutional Trading of Nayax

Institutional investors and hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC purchased a new stake in shares of Nayax during the first quarter worth about $102,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Nayax by 16.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock valued at $168,000 after acquiring an additional 1,099 shares in the last quarter. Ingalls & Snyder LLC purchased a new stake in Nayax during the 2nd quarter valued at about $229,000. Altshuler Shaham Ltd purchased a new stake in Nayax during the 2nd quarter valued at about $1,010,000. Finally, Baillie Gifford & Co. purchased a new stake in Nayax during the 1st quarter valued at about $1,302,000. Hedge funds and other institutional investors 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.