In a remarkable display of resilience and growth, Nayax (TASE:NYAX) Ltd’s stock has soared to a 52-week high, reaching a price level of $31.21. The company, currently valued at $1.1 billion, has demonstrated strong revenue growth of ~33% over the last twelve months, with analysts on InvestingPro forecasting continued sales expansion. This milestone underscores the company’s strong performance in the market, reflecting investor confidence and a bullish outlook on its business prospects. Over the past year, Nayax has witnessed an impressive 48.94% change in its stock value, with particularly strong momentum shown in its 41.73% gain over the past six months. The company operates with a moderate debt level and maintains a healthy current ratio of 1.25. Investors and market analysts alike are closely monitoring Nayax’s trajectory as it continues to innovate and expand its market presence. (Discover 10+ additional exclusive insights and analysis tools with InvestingPro)
In other recent news, B. Riley initiated coverage of Nayax with a positive outlook, citing the fintech company’s rapid growth and SaaS expansion. The firm set a price target of $38.00 per share, recognizing Nayax’s extensive global reach and a net retention rate of 130%. Nayax’s business model, which emphasizes recurring SaaS and payment processing fees, contributes to 72% of its sales and is expected to support a rapid increase in profitability.
In addition to this, Nayax has seen significant developments in its operations. The company promoted Keren Sharir to the role of President, and launched Nayax EV CloudPay, a cloud-based payment system for electric vehicle charging stations. This system supports over 80 digital and cashless payment methods, aiming to reduce inefficiencies in the EV charging payment infrastructure.
Recent developments also include Nayax’s partnership with DKV Mobility to expand payment options in Europe, set to begin in the second half of 2024. The company also acquired Roseman Engineering Company Ltd., a key player in fuel and EV management solutions, for approximately $5.7 million. Analysts from Keefe, Bruyette & Woods, Barclays (LON:BARC), and UBS have initiated coverage of Nayax, giving it ratings of Market Perform, Equal Weight, and Neutral respectively.
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