Jefferies Financial Group Upgrades Lesaka Technologies (NASDAQ:LSAK) to "Strong-Buy"

Key Points

• Jefferies Financial Group upgraded Lesaka Technologies to “strong buy,” although analyst opinion remains mixed. MarketBeat reports a consensus “hold” rating and an average price target of $7.56.
• Lesaka shares rose 2.4% to open at $4.26, within a 52-week range of $3.62 to $5.54. The company reported quarterly EPS of $0.15 on revenue of $98.5 million.
• Institutional investors and hedge funds own 24.19% of Lesaka’s shares, with several firms—including Rathbones Group and Renaissance Technologies—recently increasing their positions.

Lesaka Technologies (NASDAQ:LSAK - Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings cut Lesaka Technologies from a "sell (d)" rating to a "sell (d-)" rating in a research note on Wednesday, September 2nd. Wall Street Zen lowered shares of Lesaka Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $7.56.

Lesaka Technologies Trading Up 2.4%

Shares of NASDAQ:LSAK opened at $4.26 on Monday. Lesaka Technologies has a 52 week low of $3.62 and a 52 week high of $5.54. The company has a current ratio of 1.59, a quick ratio of 1.47 and a debt-to-equity ratio of 0.95. The company has a market cap of $365.59 million, a PE ratio of 106.53 and a beta of 0.33. The company's 50 day moving average is $4.64 and its two-hundred day moving average is $4.79.

Lesaka Technologies (NASDAQ:LSAK - Get Free Report) last announced its quarterly earnings results on Saturday, August 15th. The company reported $0.15 earnings per share (EPS) for the quarter. The company had revenue of $98.50 million during the quarter. Lesaka Technologies had a return on equity of 1.65% and a net margin of 0.43%. Equities analysts predict that Lesaka Technologies will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Lesaka Technologies

Hedge funds have recently made changes to their positions in the company. Potomac Capital Management Inc. acquired a new position in shares of Lesaka Technologies during the fourth quarter worth about $4,766,000. Rathbones Group PLC lifted its position in Lesaka Technologies by 6.6% in the fourth quarter. Rathbones Group PLC now owns 3,644,420 shares of the company's stock valued at $17,384,000 after purchasing an additional 225,000 shares during the period. AXQ Capital LP acquired a new position in Lesaka Technologies during the 2nd quarter worth approximately $60,000. Renaissance Technologies LLC raised its stake in shares of Lesaka Technologies by 16.6% during 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 in the last quarter. Finally, 9823 Capital L.P. acquired a new stake in shares of Lesaka Technologies in the 4th quarter valued at approximately $94,000. Institutional investors and hedge funds own 24.19% of the company's stock.

About Lesaka Technologies

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.

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