Lesaka Technologies (NASDAQ:LSAK) Stock Bumped Down to Hold by Wall Street Zen

Wall Street Zen cut shares of Lesaka Technologies (NASDAQ:LSAK) from a strong-buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other analysts also recently commented on LSAK. Jefferies Financial Group reiterated a “buy” rating and set a $7.56 target price on shares of Lesaka Technologies in a research report on Monday, September 14th. Weiss Ratings cut Lesaka Technologies from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Lesaka Technologies currently has an average rating of “Hold” and a consensus target price of $7.56.

Lesaka Technologies Price Performance

Shares of LSAK stock remained flat at $3.32 during midday trading on Friday. 155,452 shares of the stock were exchanged, compared to its average volume of 188,175. The business’s fifty day moving average price is $4.19 and its 200 day moving average price is $4.63. The stock has a market cap of $287.31 million, a price-to-earnings ratio of 83.02 and a beta of 0.29. The company has a current ratio of 1.49, a quick ratio of 1.37 and a debt-to-equity ratio of 0.93. Lesaka Technologies has a 52 week low of $3.24 and a 52 week high of $5.54.

Lesaka Technologies (NASDAQ:LSAK) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Lesaka Technologies had a return on equity of 4.93% and a net margin of 0.44%. The business had revenue of $184.57 million for the quarter, compared to analysts’ expectations of $97.37 million. As a group, research analysts anticipate that Lesaka Technologies will post 0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lesaka Technologies

Hedge funds have recently bought and sold shares of the stock. Hosking Partners LLP raised its holdings in shares of Lesaka Technologies by 27.2% in the third quarter. Hosking Partners LLP now owns 3,465,448 shares of the company’s stock worth $15,005,000 after acquiring an additional 741,295 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Lesaka Technologies by 52.6% in the third quarter. Marshall Wace LLP now owns 197,511 shares of the company’s stock valued at $855,000 after acquiring an additional 68,061 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Lesaka Technologies by 28.8% during the third quarter. Russell Investments Group Ltd. now owns 126,397 shares of the company’s stock valued at $547,000 after acquiring an additional 28,254 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Lesaka Technologies during the second quarter valued at $60,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Lesaka Technologies by 16.6% during the first quarter. Renaissance Technologies LLC now owns 185,900 shares of the company’s stock valued at $946,000 after acquiring an additional 26,500 shares during the last quarter. Hedge funds and other institutional investors own 24.19% of the company’s stock.

Lesaka Technologies Company Profile

Lesaka Technologies is a fintech company that provides digital payment and financial services, primarily in South Africa and other markets in Southern Africa. Its platform connects consumers, merchants and other businesses with payment tools and related financial products. The company’s consumer services include transaction accounts, payments, lending and insurance, while its merchant solutions include payment acceptance, point-of-sale technology and related business services. Lesaka serves individuals and businesses that may have limited access to traditional financial services.