Lesaka Technologies (NASDAQ:LSAK) Shares Down 0.4% - Time to Sell?

Key Points

• Lesaka Technologies shares fell 0.4% to $4.45, trading near both its 50-day moving average of $4.50 and 200-day moving average of $4.71.
• Analysts maintain a generally favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $7.56, substantially above the current share price.
• The company reported quarterly earnings of $0.15 per share on $98.5 million in revenue, while institutional investors and hedge funds own 24.19% of its stock.

Lesaka Technologies, Inc. (NASDAQ:LSAK - Get Free Report) shares were down 0.4% on Thursday. The stock traded as low as $4.35 and last traded at $4.45. 250,406 shares changed hands during trading, a decline of 3% from the average daily volume of 258,979 shares. The stock had previously closed at $4.47.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LSAK shares. Weiss Ratings raised Lesaka Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Wall Street Zen raised Lesaka Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 19th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $7.56 price target on shares of Lesaka Technologies in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $7.56.

Lesaka Technologies Price Performance

The stock's fifty day moving average is $4.50 and its 200-day moving average is $4.71. The stock has a market capitalization of $381.79 million, a PE ratio of 111.28 and a beta of 0.36. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.59 and a quick ratio of 1.47.

Lesaka Technologies (NASDAQ:LSAK - Get Free Report) last released its quarterly earnings data on Saturday, August 15th. The company reported $0.15 earnings per share for the quarter. The company had revenue of $98.50 million during the quarter. Lesaka Technologies had a net margin of 0.43% and a return on equity of 1.65%. As a group, equities analysts predict that Lesaka Technologies, Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lesaka Technologies

Institutional investors have recently modified their holdings of the business. AXQ Capital LP acquired a new position in Lesaka Technologies in the 2nd quarter worth about $60,000. 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. Finally, 9823 Capital L.P. purchased a new position in Lesaka Technologies during the fourth quarter worth approximately $94,000. 24.19% of the stock is currently owned by institutional investors and hedge funds.

About Lesaka Technologies

Lesaka Technologies, Inc is a financial technology company that provides digital payments and other financial services to consumers and businesses in Southern Africa. The company serves individuals who are underserved by traditional banking institutions, as well as merchants in the informal and formal economies.

Lesaka's consumer offerings include transactional banking services, digital wallets, money transfers, insurance and credit-related products. Its merchant business provides payment acceptance solutions, point-of-sale services, cash management, banking tools and other value-added financial services designed to help businesses manage collections, payments and daily operations.

The company operates primarily in South Africa and has a presence in several other Southern African markets, including Botswana, Lesotho, Eswatini and Namibia.

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