Mastercard Inc (NYSE:MA) announced the winner of the first Tel Aviv “Masters of Code”: “weBusking” is the winning team from Israel will join other winning regional teams to participate in the Grand Finale Masters of Code Hackathon in Silicon Valley. They will also receive a MasterCard Priceless® Experience – Northern California, which will take place in Napa Valley and San Francisco. The winning team at the final will be recognized as the first Masters of Code Champions and given their Masters of Code Jackets, $100,000 and many other rewards.
Masters of Code Tel Aviv made history in this two-day hackathon, following the events that already took place in Sydney, Hong Kong, Kuala Lumpur and Sao Paulo; for the first time, the winning team was made up of only two people, Yuri Friedberg and Max Shakurov. As the name suggests, “weBusking” creates a platform for street performers to live-stream their performance. “It’s like crowdfunding for the arts, but live,” explains Friedberg, who played the violin for many years before becoming a programmer. “You can be anywhere in the world and choose to see any arts performance, and at the same time help these artists just as you would at the train station”. Yuri surprised the judges with a violin performance of the theme from Game of Thrones during their three-minute pitch, further distinguishing “weBusking” as the only team from “Master of Code” to play an instrument in their pitch. Fewer words and more music was their strategy, and it worked to make their application, which brings “busking” to a new, global platform, stand out from the crowd.
Nine teams competed for two days to create innovative prototypes that demonstrate artful coding and design skills while also articulating clear business use – all focused on driving the next generation of commerce applications. Runner-up “Rav-Kav” submitted a payments smart card and other entries included a smartwatch wallet and a fitness app tied to charitable giving. Using MasterCard APIs, developers had access to unsurpassed assets, data, products and services from MasterCard focused on powering commerce on a global scale.
The panel of judges included: Oded Zehavi, COO, Kaymera Technologies, Sidney Gottesman, Executive Vice President, Emerging Payments, MasterCard, Andras Hemberger, Israel Country Manager, MasterCard, Yael Weinstein, Director of Economic Development, Tel Aviv Municipality, Roy Latke, Editor, GeekTime, Nadav Naaman, Founder & CEO, Docady, Assaf Gilad, Technology Reporter, Calcalist, Archiya Fried, VP Business Sector, ICC and Ohad Maimon, VP Innovation & Product Development, Leumicard.
Andras Hemberger, MasterCard Israel Country Manager: “The quality of the teams that participated in the competition and their impressive capabilities, are proof that Israeli innovation doesn’t stop”. Andras also noted, “events like this showcase the creative thinking and support that MasterCard provides the start-up community, not just in Israel, but all around the world”. (Original Source)
Shares of Mastercard Inc closed yesterday at $94.15 . MA has a 1-year high of $95.13 and a 1-year low of $69.64. The stock’s 50-day moving average is $92.52 and its 200-day moving average is $88.38.
On the ratings front, Mastercard Inc has been the subject of a number of recent research reports. In a report issued on June 1, Deutsche Bank analyst Bryan Keane reiterated a Buy rating on MA, with a price target of $100, which implies an upside of 6.2% from current levels. Separately, on May 19, Pacific Crest’s Josh Beck upgraded the stock to Buy and has a price target of $110.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Bryan Keane and Josh Beck have a total average return of 12.8% and 6.7% respectively. Keane has a success rate of 76.4% and is ranked #415 out of 3629 analysts, while Beck has a success rate of 68.4% and is ranked #1427.
In total, one research analyst has assigned a Hold rating and 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $98.67 which is 4.8% above where the stock closed yesterday.