Nayax price target lowered to ILS 157 from ILS 162 at Jefferies

Jefferies lowered the firm’s price target on Nayax (NYAX) to ILS 157 from ILS 162 and keeps a Buy rating on the shares. The firm views the company’s Q4 results as a “prolongation of Q3,” with “disappointing” heritage hardware sales offset by a “consistent showing” of recurring revenue and good cost control. The firm is “encouraged” about a continuation in the scaling of Nayax’s EBITDA margins and its increased emphasis on free cash flow generation. It sees the company’s 2025 guidance as achievable, but moves estimates to the low-end, citing the low visibility on hardware sales.