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Nayax (TASE:NYAX) Ltd, a global fintech company with a market capitalization of $1.3 billion, has reached an all-time high, with its stock price soaring to $37.2, just pennies away from its 52-week high of $37.19. This milestone underscores a period of significant growth for the company, with revenue expanding 32.68% year-over-year, reflecting investor confidence and a positive market outlook. Over the past year, Nayax has experienced a remarkable 58.48% increase in its stock value, with particularly strong momentum showing a 67.2% gain over the last six months. This impressive performance has placed Nayax in the spotlight, as stakeholders and analysts closely watch its trajectory. InvestingPro analysis reveals 12 additional investment tips for Nayax, offering valuable insights for investors seeking deeper analysis.
In other recent news, financial technology firm Nayax has been in the spotlight due to several significant developments. B. Riley initiated coverage of Nayax, praising its rapid growth, global reach, and emphasis on software-as-a-service (SaaS) expansion. The firm gave Nayax a Buy rating, setting a price target of $38.00 per share, underlining the company’s successful business model that generates 72% of its sales from recurring SaaS and payment processing fees.
Nayax’s profitability is expected to increase rapidly due to its diverse and growing base of higher-margin recurring revenue. B. Riley anticipates that the company will transition to generating sustainable positive free cash flow within the current year. Meanwhile, Nayax has promoted Keren Sharir to the role of President, adding to her current position as Chief Marketing Officer, a move aimed at increasing efficiency across departments.
In a bid to streamline payments for electric vehicle charging stations, Nayax launched Nayax EV CloudPay, a cloud-based payment system that supports over 80 digital and cashless payment methods. Analysts from Keefe, Bruyette & Woods, Barclays (LON:BARC), and UBS have also initiated coverage of Nayax, giving it ratings of Market Perform, Equal Weight, and Neutral respectively.
Furthering its expansion, Nayax has announced a partnership with DKV Mobility to broaden payment options in Europe, starting in the second half of 2024. Additionally, the company acquired Roseman Engineering Company Ltd., a key player in fuel and EV management solutions, for approximately $5.7 million. These developments highlight Nayax’s ongoing efforts to enhance commerce and payment solutions, especially in the burgeoning electric vehicle sector.
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