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

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.