Lesaka Technologies (NASDAQ:LSAK) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Lesaka Technologies from “strong buy” to “hold.” Across three analysts, ratings are split between strong buy, hold, and sell; the consensus is “hold” with a $7.56 price target.
• Lesaka reported quarterly EPS of $0.04, above the $0.03 consensus, and revenue of $184.57 million versus analyst expectations of $97.37 million.
• Shares opened at $3.32, near the stock’s $3.24 52-week low; the company’s market capitalization was about $287 million.

Lesaka Technologies (NASDAQ:LSAK - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the company. 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. 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 given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lesaka Technologies currently has a consensus rating of "Hold" and a consensus target price of $7.56.

Lesaka Technologies Stock Performance

Shares of Lesaka Technologies stock opened at $3.32 on Friday. Lesaka Technologies has a 1 year low of $3.24 and a 1 year high of $5.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.49 and a quick ratio of 1.37. The business has a 50 day moving average price of $4.19 and a 200 day moving average price of $4.63. The company has a market capitalization of $287.31 million, a P/E ratio of 83.02 and a beta of 0.29.

Lesaka Technologies (NASDAQ:LSAK - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The firm had revenue of $184.57 million for the quarter, compared to analysts' expectations of $97.37 million. Lesaka Technologies had a return on equity of 4.93% and a net margin of 0.44%. Sell-side analysts anticipate that Lesaka Technologies will post 0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Lesaka Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Hosking Partners LLP boosted its position in Lesaka Technologies by 27.2% during 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 grew its stake in Lesaka Technologies by 52.6% in the 3rd quarter. Marshall Wace LLP now owns 197,511 shares of the company's stock worth $855,000 after acquiring an additional 68,061 shares during the period. Russell Investments Group Ltd. grew its stake in Lesaka Technologies by 28.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 126,397 shares of the company's stock worth $547,000 after acquiring an additional 28,254 shares during the period. AXQ Capital LP purchased a new stake in Lesaka Technologies in the 2nd quarter worth approximately $60,000. Finally, Renaissance Technologies LLC raised 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 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.

About Lesaka Technologies

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.

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