Paypal Holdings Inc (NASDAQ:PYPL) announced it has appointed Wences Casares to its Board of Directors. A successful international fintech entrepreneur and recognized next-generation payment and crypto-currency thought leader, Casares will serve on PayPal’s Compensation Committee. His appointment was effective January 12, 2016.
Casares is the founder and CEO of Xapo, a company that provides the tools people need to purchase bitcoins and then manage them through an easy-to-use online wallet, spend them through the Xapo Debit Card or store them in Xapo’s secure Vault.
“I join PayPal’s directors and the entire PayPal team in welcoming Wences to our Board,” said Dan Schulman, President and CEO of PayPal. “Wences’s unique line of sight into the future of commerce is ideally aligned with PayPal’s vision of transforming the management and movement of money for people around the globe.”
“I am honored to serve on the board of an iconic global company dedicated to driving the transformation of money on a global scale,” Casares said. “I look forward to working together with the PayPal board and leadership team to continue to deliver their compelling vision.”
Casares has founded successful technology and financial ventures in the U.S., South America and Europe. He founded Argentina’s first ISP as well as Latin America’s premier online brokerage, Patagon. He later founded Banco Lemon, a Brazilian retail bank, as well as mobile payments companies Bling Nation and Lemon Wallet, which was acquired in 2013. (Original Source)
Shares of Paypal Holdings closed yesterday at $33.08. PYPL has a 1-year high of $42.55 and a 1-year low of $30. The stock’s 50-day moving average is $35.25 and its 200-day moving average is $35.50.
On the ratings front, Paypal Holdings has been the subject of a number of recent research reports. In a report issued on January 4, Monness Crespi Hardt & Co analyst James Cakmak downgraded PYPL to Sell. Separately, on December 3, Deutsche Bank’s Bryan Keane reiterated a Buy rating on the stock and has a price target of $44.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, James Cakmak and Bryan Keane have a total average return of 14.2% and 8.7% respectively. Cakmak has a success rate of 83.3% and is ranked #488 out of 3609 analysts, while Keane has a success rate of 61.4% and is ranked #304.
Overall, 2 research analysts have rated the stock with a Sell rating, 3 research analysts have assigned a Hold rating and 12 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 $42.31 which is 27.9% above where the stock closed yesterday.
PayPal Holdings Inc is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s payments platform includes PayPal, PayPal Credit, Venmo and Braintree products.