Maxim Group analyst Allen Klee maintained a Buy rating on Net 1 Ueps (UEPS) yesterday and set a price target of $7. The company’s shares closed yesterday at $4.15.
Klee wrote:
“In F4Q19 (Jun) earnings expected to be released in early August, we expect down revenue y/y and a loss per share, primarily due to challenges from South African (SA) businesses.”
According to TipRanks.com, Klee is ranked 0 out of 5 stars with an average return of -14.2% and a 29.7% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and ATN International Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Net 1 Ueps with a $7 average price target.
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Based on Net 1 Ueps’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $48.82 million. In comparison, last year the company had a net profit of $6.9 million.
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Net 1 UEPS Technologies, Inc. engages in the provision of payment solutions and transaction processing services in South Africa. The firm designs, develops, and markets transaction technology, solutions, and services.