Lesaka Technologies (NASDAQ:LSAK) Raised to Strong-Buy at Jefferies Financial Group

Lesaka Technologies (NASDAQ:LSAK) was upgraded by equities research analysts at Jefferies Financial Group to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Lesaka Technologies from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, September 2nd. Wall Street Zen downgraded Lesaka Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.56.

Lesaka Technologies Stock Performance

Shares of NASDAQ:LSAK opened at $4.26 on Monday. The company has a quick ratio of 1.47, a current ratio of 1.59 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $365.59 million, a price-to-earnings ratio of 106.53 and a beta of 0.33. The firm has a 50 day moving average of $4.64 and a 200 day moving average of $4.79. Lesaka Technologies has a 52 week low of $3.62 and a 52 week high of $5.54.

Lesaka Technologies (NASDAQ:LSAK) last issued its quarterly earnings data on Saturday, August 15th. The company reported $0.15 earnings per share for the quarter. Lesaka Technologies had a return on equity of 1.65% and a net margin of 0.43%.The company had revenue of $98.50 million for the quarter. On average, sell-side analysts predict that Lesaka Technologies will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rathbones Group PLC raised its position in shares of Lesaka Technologies by 6.6% in the fourth quarter. Rathbones Group PLC now owns 3,644,420 shares of the company’s stock worth $17,384,000 after acquiring an additional 225,000 shares during the period. Potomac Capital Management Inc. acquired a new position in Lesaka Technologies in the 4th quarter worth about $4,766,000. Renaissance Technologies LLC boosted its position in Lesaka Technologies by 16.6% during the first quarter. Renaissance Technologies LLC now owns 185,900 shares of the company’s stock worth $946,000 after purchasing an additional 26,500 shares in the last quarter. 9823 Capital L.P. purchased a new stake in shares of Lesaka Technologies in the fourth quarter valued at approximately $94,000. Finally, AXQ Capital LP purchased a new stake in shares of Lesaka Technologies in the second quarter valued at approximately $60,000. Hedge funds and other institutional investors 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.