Lesaka Technologies (NASDAQ:LSAK) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Lesaka Technologies to “strong buy” from “buy.” The stock has a consensus “moderate buy” rating and a $7.56 price target, according to MarketBeat.
• Lesaka shares opened at $4.20, down 0.9%, with a market capitalization of approximately $360.4 million. The company recently reported quarterly earnings of $0.15 per share on $98.5 million in revenue.
• Institutional investors and hedge funds own 24.19% of Lesaka’s shares, with several firms recently initiating or increasing positions.

Lesaka Technologies (NASDAQ:LSAK - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms also recently weighed in on LSAK. Jefferies Financial Group restated a "buy" rating and set a $7.56 target price on shares of Lesaka Technologies in a report on Monday. Weiss Ratings raised shares of Lesaka Technologies from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.56.

Lesaka Technologies Stock Down 0.9%

LSAK opened at $4.20 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.47 and a current ratio of 1.59. The company has a market cap of $360.44 million, a price-to-earnings ratio of 105.03 and a beta of 0.33. Lesaka Technologies has a one year low of $3.62 and a one year high of $5.54. The business's fifty day moving average is $4.60 and its two-hundred day moving average is $4.78.

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 for the quarter. The business 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%. Analysts anticipate that Lesaka Technologies will post 0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Lesaka Technologies

A number of institutional investors have recently modified their holdings of the company. AXQ Capital LP purchased a new position in shares of Lesaka Technologies during the second quarter valued at approximately $60,000. 9823 Capital L.P. acquired a new stake in Lesaka Technologies during the fourth quarter worth approximately $94,000. Renaissance Technologies LLC grew its stake 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 acquiring an additional 26,500 shares during the period. Finally, Potomac Capital Management Inc. purchased a new stake in Lesaka Technologies in the 4th quarter worth approximately $4,766,000. 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.

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