Net 1 UEPS Technologies (NASDAQ:UEPS) Now Covered by Analysts at StockNews.com

Posted by on Jun 18th, 2022

Equities researchers at StockNews.com initiated coverage on shares of Net 1 UEPS Technologies (NASDAQ:UEPS – Get Rating) in a note issued to investors on Saturday. The firm set a “hold” rating on the business services provider’s stock.

Other research analysts have also recently issued research reports about the stock. B. Riley lifted their price objective on shares of Net 1 UEPS Technologies from $7.00 to $8.00 in a report on Friday, May 13th. TheStreet raised shares of Net 1 UEPS Technologies from a “d+” rating to a “c” rating in a report on Monday, May 23rd.

The firm has a market capitalization of $271.04 million, a P/E ratio of -9.54 and a beta of 1.23. The firm’s 50-day simple moving average is $5.05 and its two-hundred day simple moving average is $5.04. Net 1 UEPS Technologies has a 1 year low of $3.84 and a 1 year high of $6.97.

Net 1 UEPS Technologies (NASDAQ:UEPS – Get Rating) last posted its earnings results on Tuesday, May 10th. The business services provider reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The company had revenue of $35.20 million during the quarter, compared to the consensus estimate of $32.31 million. Net 1 UEPS Technologies had a negative net margin of 20.01% and a negative return on equity of 10.59%. During the same period in the previous year, the firm posted ($0.24) earnings per share. As a group, analysts expect that Net 1 UEPS Technologies will post -0.51 EPS for the current year.

In other news, Director Monde Nkosi acquired 11,930 shares of the business’s stock in a transaction on Monday, March 21st. The stock was bought at an average price of $4.98 per share, with a total value of $59,411.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in UEPS. Millennium Management LLC purchased a new stake in Net 1 UEPS Technologies during the 2nd quarter valued at about $73,000. Morgan Stanley grew its stake in Net 1 UEPS Technologies by 1,007.0% during the 2nd quarter. Morgan Stanley now owns 1,790,310 shares of the business services provider’s stock valued at $8,432,000 after acquiring an additional 1,628,586 shares in the last quarter. Invesco Ltd. grew its stake in Net 1 UEPS Technologies by 1.4% during the 3rd quarter. Invesco Ltd. now owns 377,003 shares of the business services provider’s stock valued at $1,753,000 after acquiring an additional 5,028 shares in the last quarter. IFP Advisors Inc grew its stake in Net 1 UEPS Technologies by 5.4% during the 4th quarter. IFP Advisors Inc now owns 88,858 shares of the business services provider’s stock valued at $480,000 after acquiring an additional 4,518 shares in the last quarter. Finally, Veriti Management LLC purchased a new stake in Net 1 UEPS Technologies during the 4th quarter valued at about $66,000. 47.06% of the stock is owned by institutional investors and hedge funds.

Net 1 UEPS Technologies Company Profile (Get Rating)

Net 1 UEPS Technologies, Inc, a financial technology company, provides fintech products and services to unbanked and underbanked individuals and small businesses primarily in South Africa and internationally. The company develops payment technologies to offers financial and value -added services to its customers.

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