Nayax’s Promising Growth Trajectory and Strategic Initiatives Justify Buy Rating

William Blair analyst Christopher Kennedy has maintained their bullish stance on NYAX stock, giving a Buy rating on May 30.

Christopher Kennedy has given his Buy rating due to a combination of factors that highlight Nayax’s promising growth trajectory. The company has set ambitious revenue growth targets, aiming for 30%-35% by 2025, with a significant portion coming from organic growth and strategic mergers and acquisitions. This growth outlook is supported by Nayax’s strong focus on recurring revenues and its ability to maintain a high net revenue retention rate of 129% in 2024.
Additionally, Nayax’s strategic initiatives in the embedded hardware space, particularly with the introduction of the cost-effective UNO mini device, are expected to enhance its market presence, especially in the OEM channel. The company’s efforts in the EV charging sector, including partnerships with major networks like Electrify America and EVgo, further bolster its growth potential. With long-term targets of achieving 50% gross margins and 30% adjusted EBITDA margins, Nayax’s financial outlook appears robust, justifying the Buy rating.

In another report released on May 30, Jefferies also maintained a Buy rating on the stock with a $52.80 price target.