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Lesaka Technologies (LSAK) Surges 6.3%: Is This an Indication of Further Gains?
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Lesaka Technologies (LSAK - Free Report) shares ended the last trading session 6.3% higher at $5.04. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.9% loss over the past four weeks.
The stock is benefiting from the company's topline strength. LSAK has uplifted its devices from lower turnover sites and deployed them more profitably.
This payments company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +55.6%. Revenues are expected to be $144.17 million, up 5.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Lesaka Technologies, the consensus EPS estimate for the quarter has been revised 11.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on LSAK going forward to see if this recent jump can turn into more strength down the road.
Lesaka Technologies is part of the Zacks Technology Services industry. Bit Digital, Inc. (BTBT - Free Report) , another stock in the same industry, closed the last trading session 2.8% lower at $3.50. BTBT has returned 2.6% in the past month.
Bit Digital's consensus EPS estimate for the upcoming report has changed -100% over the past month to $0. Compared to the company's year-ago EPS, this represents a change of +100%. Bit Digital currently boasts a Zacks Rank of #3 (Hold).
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Lesaka Technologies (LSAK) Surges 6.3%: Is This an Indication of Further Gains?
Lesaka Technologies (LSAK - Free Report) shares ended the last trading session 6.3% higher at $5.04. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.9% loss over the past four weeks.
The stock is benefiting from the company's topline strength. LSAK has uplifted its devices from lower turnover sites and deployed them more profitably.
This payments company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +55.6%. Revenues are expected to be $144.17 million, up 5.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Lesaka Technologies, the consensus EPS estimate for the quarter has been revised 11.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on LSAK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Lesaka Technologies is part of the Zacks Technology Services industry. Bit Digital, Inc. (BTBT - Free Report) , another stock in the same industry, closed the last trading session 2.8% lower at $3.50. BTBT has returned 2.6% in the past month.
Bit Digital's consensus EPS estimate for the upcoming report has changed -100% over the past month to $0. Compared to the company's year-ago EPS, this represents a change of +100%. Bit Digital currently boasts a Zacks Rank of #3 (Hold).