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Net 1 Ueps Technolog (NASDAQ:UEPS)’s share price reached a new 52-week high during trading on Friday following a better than expected earnings announcement, American Banking reports. The company traded as high as $13.38 and last traded at $12.55, with a volume of 2,297,271 shares. The stock had previously closed at $11.70.

The company reported $0.91 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.58. The company had revenue of $182.75 million for the quarter. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 55.0% on a year-over-year basis.

Separately, analysts at Zacks downgraded shares of Net 1 Ueps Technolog from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 12th. They now have a $12.70 price target on the stock.

The stock’s 50-day moving average is $10.96 and its 200-day moving average is $10.45. The company has a market cap of $569.7 million and a P/E ratio of 10.85.

Net 1 UEPS Technologies, Inc (NASDAQ:UEPS) provides a smart-card based alternative payment system for the unbanked and underbanked populations of developing economies.

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