B. Riley Reiterates “$7.00” Price Target for Net 1 UEPS Technologies (NASDAQ:UEPS)

Net 1 UEPS Technologies (NASDAQ:UEPS) has been given a $7.00 target price by stock analysts at B. Riley in a report released on Tuesday, TipRanks reports. The firm presently has a “buy” rating on the business services provider’s stock. B. Riley’s price objective would suggest a potential upside of 100.00% from the company’s previous close.

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 note on Saturday, July 13th. Maxim Group set a $7.00 price target on Net 1 UEPS Technologies and gave the company a “buy” rating in a report on Friday, May 24th. Finally, ValuEngine upgraded shares of Net 1 UEPS Technologies from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Net 1 UEPS Technologies currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Net 1 UEPS Technologies stock traded up $0.04 during mid-day trading on Tuesday, hitting $3.50. 190,116 shares of the company’s stock traded hands, compared to its average volume of 348,478. The firm has a 50 day moving average price of $3.47 and a 200 day moving average price of $3.67. The company has a market cap of $188.12 million, a PE ratio of 1.79 and a beta of 0.70. Net 1 UEPS Technologies has a one year low of $2.78 and a one year high of $8.07.



Several hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Net 1 UEPS Technologies in the 2nd quarter worth approximately $83,000. Clear Harbor Asset Management LLC bought a new stake in Net 1 UEPS Technologies during the second quarter worth approximately $94,000. Russell Investments Group Ltd. raised its holdings in Net 1 UEPS Technologies by 30.9% during the second quarter. Russell Investments Group Ltd. now owns 29,670 shares of the business services provider’s stock worth $119,000 after purchasing an additional 7,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Net 1 UEPS Technologies by 83.7% in the second quarter. JPMorgan Chase & Co. now owns 121,373 shares of the business services provider’s stock worth $485,000 after purchasing an additional 55,302 shares during the period. Finally, Deutsche Bank AG lifted its position in Net 1 UEPS Technologies by 4,089.6% in the fourth quarter. Deutsche Bank AG now owns 136,372 shares of the business services provider’s stock worth $639,000 after purchasing an additional 133,117 shares during the period. Institutional investors own 53.24% 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.

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