Zacks Investment Research Lowers Net 1 UEPS Technologies (UEPS) to Sell

Zacks Investment Research downgraded shares of Net 1 UEPS Technologies (NASDAQ:UEPS) from a hold rating to a sell rating in a report issued on Friday morning, Zacks.com reports.

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 reports. Maxim Group set a $12.00 price target on shares of Net 1 UEPS Technologies and gave the stock a buy rating in a research note on Tuesday, January 29th. ValuEngine lowered shares of Net 1 UEPS Technologies from a hold rating to a sell rating in a research note on Saturday, January 19th. B. Riley initiated coverage on shares of Net 1 UEPS Technologies in a research note on Friday, January 18th. They set a buy rating and a $10.00 price target on the stock. Finally, BidaskClub upgraded shares of Net 1 UEPS Technologies from a sell rating to a hold rating in a research note on Saturday, December 22nd. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $11.67.



Shares of Net 1 UEPS Technologies stock opened at $3.36 on Friday. Net 1 UEPS Technologies has a 52-week low of $2.78 and a 52-week high of $10.71. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.01. The stock has a market cap of $195.51 million, a PE ratio of 1.71 and a beta of 0.83.

Net 1 UEPS Technologies (NASDAQ:UEPS) last issued its quarterly earnings results on Thursday, February 7th. The business services provider reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.88). Net 1 UEPS Technologies had a positive return on equity of 0.19% and a negative net margin of 11.05%. The firm had revenue of $97.15 million for the quarter, compared to analyst estimates of $116.64 million. During the same quarter last year, the firm earned $0.39 earnings per share. The company’s revenue was down 34.5% compared to the same quarter last year. Equities analysts anticipate that Net 1 UEPS Technologies will post -1.07 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ramsey Quantitative Systems grew its position in Net 1 UEPS Technologies by 33.7% during the fourth quarter. Ramsey Quantitative Systems now owns 21,995 shares of the business services provider’s stock worth $103,000 after buying an additional 5,545 shares during the period. BlackRock Inc. grew its position in Net 1 UEPS Technologies by 6.0% during the fourth quarter. BlackRock Inc. now owns 136,416 shares of the business services provider’s stock worth $639,000 after buying an additional 7,685 shares during the period. IFP Advisors Inc grew its position in Net 1 UEPS Technologies by 1,166.0% during the fourth quarter. IFP Advisors Inc now owns 12,660 shares of the business services provider’s stock worth $57,000 after buying an additional 11,660 shares during the period. United Services Automobile Association grew its position in Net 1 UEPS Technologies by 69.0% during the fourth quarter. United Services Automobile Association now owns 28,867 shares of the business services provider’s stock worth $135,000 after buying an additional 11,781 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in Net 1 UEPS Technologies during the third quarter worth about $156,000. Institutional investors own 56.16% of the company’s stock.

Net 1 UEPS Technologies Company Profile

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.

Recommended Story: Quick Ratio

Get a free copy of the Zacks research report on Net 1 UEPS Technologies (UEPS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Net 1 UEPS Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Net 1 UEPS Technologies and related companies with MarketBeat.com's FREE daily email newsletter.