Wall Street Zen Upgrades Lesaka Technologies (NASDAQ:LSAK) to “Strong-Buy”

Lesaka Technologies (NASDAQ:LSAK) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings upgraded Lesaka Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday. Jefferies Financial Group restated a “buy” rating and issued a $7.56 price objective on shares of Lesaka Technologies in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.56.

Lesaka Technologies Stock Performance

LSAK stock opened at $4.20 on Friday. The company’s 50-day simple moving average is $4.60 and its 200-day simple moving average is $4.78. The company has a quick ratio of 1.47, a current ratio of 1.59 and a debt-to-equity ratio of 0.95. Lesaka Technologies has a 52-week low of $3.62 and a 52-week high of $5.54. The firm has a market cap of $360.44 million, a P/E ratio of 105.03 and a beta of 0.33.

Lesaka Technologies (NASDAQ:LSAK) last posted its earnings results on Saturday, August 15th. The company reported $0.15 EPS for the quarter. Lesaka Technologies had a return on equity of 1.65% and a net margin of 0.43%.The firm had revenue of $98.50 million for the quarter. As a group, equities analysts forecast that Lesaka Technologies will post 0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LSAK. Potomac Capital Management Inc. purchased a new position in Lesaka Technologies in the 4th quarter valued at about $4,766,000. Renaissance Technologies LLC boosted its holdings in Lesaka Technologies by 16.6% in the 1st quarter. Renaissance Technologies LLC now owns 185,900 shares of the company’s stock worth $946,000 after buying an additional 26,500 shares during the last quarter. 9823 Capital L.P. purchased a new stake in Lesaka Technologies during the 4th quarter worth approximately $94,000. Finally, AXQ Capital LP purchased a new stake in Lesaka Technologies during the 2nd quarter worth approximately $60,000. Institutional investors and hedge funds own 24.19% of the company’s stock.

Lesaka Technologies Company Profile

Lesaka Technologies, Inc is a financial technology company that provides digital payments and financial services in Southern Africa. Formerly known as Net 1 UEPS Technologies, the company adopted the Lesaka name in 2022 as part of a broader focus on payments, banking, and related technology services.

Lesaka serves consumers, merchants, and businesses through services that include digital wallets, card and cash payments, money transfers, prepaid products, bill payment, banking services, and lending.