Lesaka Technologies (NASDAQ:LSAK) Upgraded at Wall Street Zen

Key Points

• Lesaka Technologies was upgraded by Wall Street Zen from “hold” to “strong-buy”, though the broader analyst consensus remains cautious at “Reduce.”
• The company recently reported Q3 earnings of $0.11 per share on $96.37 million in revenue, and analysts expect only $0.01 EPS for the current year.
• Insiders have been selling shares, including a recent sale by a major shareholder, while institutional investors such as Rathbones and Barclays have increased their stakes.

Lesaka Technologies (NASDAQ:LSAK - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research report issued on Saturday.

Several other analysts also recently commented on LSAK. Weiss Ratings raised shares of Lesaka Technologies from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday. Zacks Research raised shares of Lesaka Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, January 23rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce".

Lesaka Technologies Price Performance

Lesaka Technologies stock opened at $4.86 on Friday. The firm has a 50-day moving average price of $4.88 and a 200-day moving average price of $4.53. The firm has a market capitalization of $416.70 million, a PE ratio of -13.89 and a beta of 0.32. The company has a current ratio of 1.54, a quick ratio of 1.43 and a debt-to-equity ratio of 1.00. Lesaka Technologies has a 12-month low of $3.62 and a 12-month high of $5.54.

Lesaka Technologies (NASDAQ:LSAK - Get Free Report) last posted its quarterly earnings results on Friday, March 27th. The company reported $0.11 EPS for the quarter. The business had revenue of $96.37 million during the quarter. Lesaka Technologies had a negative net margin of 4.11% and a negative return on equity of 15.95%. As a group, equities research analysts forecast that Lesaka Technologies will post 0.01 EPS for the current year.

Insider Activity at Lesaka Technologies

In other news, major shareholder Finance Corp International sold 106,948 shares of the business's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $4.90, for a total transaction of $524,045.20. Following the completion of the sale, the insider owned 5,330,784 shares in the company, valued at approximately $26,120,841.60. The trade was a 1.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 798,768 shares of company stock worth $3,951,513. Corporate insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Lesaka Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rathbones Group PLC lifted its stake in Lesaka Technologies by 6.6% during the fourth quarter. Rathbones Group PLC now owns 3,644,420 shares of the company's stock worth $17,384,000 after purchasing an additional 225,000 shares during the last quarter. Barclays PLC increased its position in Lesaka Technologies by 13,359.8% in the fourth quarter. Barclays PLC now owns 141,866 shares of the company's stock worth $677,000 after buying an additional 140,812 shares during the period. 9823 Capital L.P. acquired a new stake in Lesaka Technologies in the fourth quarter worth $94,000. Potomac Capital Management Inc. acquired a new stake in Lesaka Technologies in the fourth quarter worth $4,766,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Lesaka Technologies during the third quarter valued at $74,000. 24.19% of the stock is currently owned by hedge funds and other institutional investors.

Lesaka Technologies Company Profile

Lesaka Technologies, Inc operates as a Fintech company that utilizes its proprietary banking and payment technologies to deliver financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. It offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to formal and informal retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa. The company also engages in the sale of POS devices, SIM cards, and other consumables; and license of rights to use certain technology developed by the company, as well as offers related technology services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.