Net 1 UEPS Technologies (NASDAQ:UEPS) Upgraded by Zacks Investment Research to Buy

Net 1 UEPS Technologies (NASDAQ:UEPSGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage presently has a $5.75 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 15.69% from the company’s current price.

According to Zacks, “Net 1 U.E.P.S. Technologies provides its universal electronic payment system as an alternative payment system for the unbanked and under-banked populations of developing economies. Net 1 believes that it is the first company worldwide to implement a system that can enable the estimated four billion people who generally have limited or no access to a bank account to enter affordably into electronic transactions with each other, government agencies, employers, merchants and other financial service providers. “

UEPS has been the topic of a number of other research reports. B. Riley increased their price target on Net 1 UEPS Technologies from $7.00 to $8.00 in a research report on Friday, May 13th. StockNews.com downgraded Net 1 UEPS Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th.

UEPS opened at $4.97 on Thursday. The stock’s 50-day moving average price is $5.07 and its 200 day moving average price is $5.10. Net 1 UEPS Technologies has a 12-month low of $3.84 and a 12-month high of $6.97. The firm has a market cap of $294.12 million, a price-to-earnings ratio of -10.35 and a beta of 1.23.

Net 1 UEPS Technologies (NASDAQ:UEPSGet Rating) last posted its earnings results on Tuesday, May 10th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. Net 1 UEPS Technologies had a negative return on equity of 10.59% and a negative net margin of 20.01%. During the same quarter last year, the business posted ($0.24) EPS. On average, research analysts anticipate that Net 1 UEPS Technologies will post -0.51 earnings per share for the current year.

In other news, Director Monde Nkosi acquired 12,266 shares of Net 1 UEPS Technologies stock in a transaction on Wednesday, March 16th. The stock was bought at an average price of $4.95 per share, for a total transaction of $60,716.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 69,539 shares of company stock valued at $346,557 over the last ninety days. 2.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in UEPS. Millennium Management LLC purchased a new stake in shares of Net 1 UEPS Technologies during the second quarter worth approximately $73,000. Morgan Stanley raised its stake in shares of Net 1 UEPS Technologies by 1,007.0% during the second quarter. Morgan Stanley now owns 1,790,310 shares of the business services provider’s stock worth $8,432,000 after purchasing an additional 1,628,586 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Net 1 UEPS Technologies by 65.3% in the third quarter. Goldman Sachs Group Inc. now owns 4,399,060 shares of the business services provider’s stock worth $20,456,000 after acquiring an additional 1,737,865 shares in the last quarter. Invesco Ltd. raised its position in Net 1 UEPS Technologies by 1.4% in the third quarter. Invesco Ltd. now owns 377,003 shares of the business services provider’s stock worth $1,753,000 after acquiring an additional 5,028 shares in the last quarter. Finally, Equinox Partners Investment Management LLC purchased a new position in Net 1 UEPS Technologies in the third quarter worth $1,046,000. Institutional investors and hedge funds own 47.06% of the company’s stock.

About Net 1 UEPS Technologies (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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