---
title: "Christopher Kennedy Reiterates Buy on Nayax, Citing Durable High-20s Growth, Expanding Margins and Premium-Valuation Justification"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286147223.md"
description: "William Blair analyst Christopher Kennedy has reiterated a Buy rating on Nayax (NYAX) stock, citing strong top-line performance, durable growth, and expanding margins. Nayax is experiencing robust organic growth, improved payment margins, and rising ARPU, supported by a shift into higher-value verticals and new financial services. Management's guidance for high-20s revenue growth and rising EBITDA margins reinforces confidence in the company's outlook. Despite trading at a premium to peers, Kennedy believes this is justified by Nayax's superior growth trajectory and long-term financial targets. B. Riley Securities also maintains a Buy rating with an $85 price target."
datetime: "2026-05-12T19:45:19.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286147223.md)
  - [en](https://longbridge.com/en/news/286147223.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286147223.md)
---

# Christopher Kennedy Reiterates Buy on Nayax, Citing Durable High-20s Growth, Expanding Margins and Premium-Valuation Justification

William Blair analyst Christopher Kennedy has reiterated their bullish stance on NYAX stock, giving a Buy rating on May 4.

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Christopher Kennedy has given his Buy rating due to a combination of factors, starting with Nayax’s strong top-line performance and durable growth profile. The company is delivering robust organic expansion, improving payment margins, and rising ARPU, supported by a shift into higher-value verticals, broader geographic reach, and the early contribution of new financial and embedded finance services.

At the same time, profitability is scaling meaningfully, with EBITDA margins trending higher and free cash flow expected to grow as a share of earnings. Management’s reaffirmed guidance for high‑20s revenue growth and steadily rising EBITDA margins underpins confidence in the multiyear outlook. While the shares trade at a premium to peers on forward EBITDA, Kennedy views this as justified by Nayax’s superior growth trajectory, strategic hardware moat, and compelling long‑term financial targets.

In another report released on May 4, B. Riley Securities also maintained a Buy rating on the stock with a $85.00 price target.

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