Net 1 UEPS Technologies (NASDAQ:UEPS) has been given a $7.00 price objective by Maxim Group in a research report issued on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Maxim Group’s price target suggests a potential upside of 96.08% from the company’s current price.
UEPS has been the subject of several other research reports. Zacks Investment Research cut Net 1 UEPS Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, July 13th. B. Riley set a $7.00 price target on Net 1 UEPS Technologies and gave the company a “buy” rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock presently has an average 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 had a trading volume of 300,773 shares, compared to its average volume of 338,857. Net 1 UEPS Technologies has a 52 week low of $2.78 and a 52 week high of $8.06. The stock’s 50 day moving average price is $3.35 and its 200 day moving average price is $3.64. The stock has a market cap of $202.90 million, a price-to-earnings ratio of -0.74 and a beta of 0.70.
Net 1 UEPS Technologies (NASDAQ:UEPS) last posted its earnings results on Thursday, September 26th. The business services provider reported ($2.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($2.35). The business had revenue of $71.20 million for the quarter, compared to analysts’ expectations of $67.64 million. Net 1 UEPS Technologies had a negative net margin of 71.86% and a negative return on equity of 29.70%. Net 1 UEPS Technologies’s quarterly revenue was down 52.3% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share. Equities research analysts predict that Net 1 UEPS Technologies will post -0.17 EPS for the current year.
Several large investors have recently bought and sold shares of UEPS. Cubist Systematic Strategies LLC bought a new stake in shares of Net 1 UEPS Technologies during the 2nd quarter worth approximately $83,000. Clear Harbor Asset Management LLC bought a new stake in Net 1 UEPS Technologies during the 2nd quarter valued at $94,000. Russell Investments Group Ltd. raised its position in Net 1 UEPS Technologies by 30.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 29,670 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 7,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in Net 1 UEPS Technologies by 83.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 121,373 shares of the business services provider’s stock valued at $485,000 after purchasing an additional 55,302 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in Net 1 UEPS Technologies by 201.5% during the 2nd quarter. GSA Capital Partners LLP now owns 162,291 shares of the business services provider’s stock valued at $649,000 after purchasing an additional 108,465 shares in the last quarter. 53.24% of the stock is owned by institutional investors and hedge funds.
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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