Net 1 UEPS Technologies (NASDAQ:UEPS) Given a $7.00 Price Target at Maxim Group

Maxim Group set a $7.00 price target on Net 1 UEPS Technologies (NASDAQ:UEPS) in a research report sent to investors on Friday, TipRanks reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other research firms also recently weighed in on UEPS. Zacks Investment Research downgraded Net 1 UEPS Technologies from a hold rating to a sell rating in a research note on Saturday, July 13th. B. Riley set a $7.00 price target on Net 1 UEPS Technologies and gave the stock a buy rating in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $7.00.

UEPS stock traded down $0.19 during midday trading on Friday, hitting $3.57. The company’s stock had a trading volume of 300,773 shares, compared to its average volume of 338,857. Net 1 UEPS Technologies has a 12 month low of $2.78 and a 12 month high of $8.06. The firm has a market capitalization of $202.90 million, a price-to-earnings ratio of -0.74 and a beta of 0.70. The company has a 50 day moving average of $3.35 and a two-hundred day moving average of $3.64.

Net 1 UEPS Technologies (NASDAQ:UEPS) last posted its quarterly earnings results on Thursday, September 26th. The business services provider reported ($2.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($2.35). Net 1 UEPS Technologies had a negative return on equity of 29.70% and a negative net margin of 71.86%. The business had revenue of $71.20 million during the quarter, compared to the consensus estimate of $67.64 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was down 52.3% compared to the same quarter last year. On average, analysts expect that Net 1 UEPS Technologies will post -0.17 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. Thompson Siegel & Walmsley LLC boosted its stake in Net 1 UEPS Technologies by 50.6% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 2,098,901 shares of the business services provider’s stock worth $7,535,000 after purchasing an additional 705,208 shares during the period. B. Riley Financial Inc. boosted its stake in Net 1 UEPS Technologies by 22.4% in the 2nd quarter. B. Riley Financial Inc. now owns 528,600 shares of the business services provider’s stock worth $2,114,000 after purchasing an additional 96,707 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Net 1 UEPS Technologies by 42.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 445,008 shares of the business services provider’s stock worth $1,780,000 after purchasing an additional 131,559 shares during the period. ETF Managers Group LLC boosted its stake in Net 1 UEPS Technologies by 12.1% in the 2nd quarter. ETF Managers Group LLC now owns 377,154 shares of the business services provider’s stock worth $1,509,000 after purchasing an additional 40,679 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Net 1 UEPS Technologies by 95.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 317,561 shares of the business services provider’s stock worth $1,271,000 after purchasing an additional 154,886 shares during the period. Institutional investors and hedge funds own 53.24% of the company’s stock.

About Net 1 UEPS Technologies

Net 1 UEPS Technologies, Inc provides transaction processing services, financial inclusion products and services, and secure payment technologies in South Africa, the Republic of Korea, and internationally. The company develops and markets transaction processing solutions, including smart card-based alternative payment systems for the unbanked and under-banked populations of developing economies and for mobile transaction channels.

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