Credit card payments platform Nayax (TASE: NYAX; Nasdaq: NYAX), headed by Yair Nechmad, fell by over 25% last week to a market cap of $1.9 billion. The reason for the drop was that the company cut its guidance for the free cash flow that it will generate this year out of its adjusted EBITDA.
Following the drop, Sanjay Sakhrani, an analyst at US investment house KBW ( Keefe, Bruyette & Woods), raised his rating for the company to "Outperform" and retained his $75 price target for the stock, giving Nayax an upside of 48%. He said that the market’s reaction had been exaggerated and that the fall in the stock price provided "an attractive entry point."
KBW gives approving mention to the company’s investment program aimed at raising its revenue, and its entry in electric vehicle charging, which could become a significant growth engine.
Nayax reaffirmed its 2026 revenue outlook of $510 million to $520 million, but revised its estimate of the conversion rate of adjusted EBITDA to free cash flow from 40% to 5% to 10%. In the second quarter, Nayax’s cash flow was minus $13.1 million. The company said that this was because of investment in future growth and in its financial services, and also in the EV charging platform Lynkwell, which it acquired in late 2025.
Published by Globes, Israel business news - en.globes.co.il - on August 16, 2026.
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