Net 1 Ueps (UEPS) Receives a Buy from Maxim Group

In a report issued on September 10, Allen Klee from Maxim Group maintained a Buy rating on Net 1 Ueps (UEPSResearch Report), with a price target of $7. The company’s shares closed last Monday at $3.50, close to its 52-week low of $2.78.

According to TipRanks.com, Klee is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -13.8% and a 28.0% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and ATN International Inc.

Net 1 Ueps has an analyst consensus of Moderate Buy, with a price target consensus of $7, which is a 102.3% upside from current levels. In a report issued on September 10, B.Riley FBR also assigned a Buy rating to the stock with a $7 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.