Mastercard Inc (NYSE:MA) announced the appointment of Raj Seshadri as president, U.S. Issuers. In this new role, she will be responsible for managing and expanding the company’s partnerships with banks and credit unions across the U.S. market.
“Raj brings a unique balance of analytical thinking and business-building creativity,” said Craig Vosburg, president, North American Markets. “Her proven strategic, leadership and customer-oriented capabilities across multiple industries will help MasterCard continue to be a strong partner to our issuers in an increasingly dynamic payments marketplace.”
Most recently, Seshadri was a managing director at Blackrock, leading the company’s iShares U.S. retail ETF business. Under her leadership, the business posted industry-leading growth through product, brand and distribution enhancements. Earlier in her career, Seshadri held roles at Citigroup in global strategy and small business banking; U.S. Trust in marketing, strategy and M&A; McKinsey & Company; and AT&T Bell Laboratories.
Seshadri received a bachelor’s degree from Mount Holyoke College in physics and mathematics, a Masters of Business Administration from Stanford University and a Ph.D. in physics from Harvard University. While at Harvard, she was the recipient of the prestigious Luise Meyer-Schützmeister Award, given annually to the top U.S. female physicist. Seshadri also serves as an adjunct professor at Columbia University, where she teaches marketing of financial services.
“For years, I have seen the impact that MasterCard has made by bringing innovative products and solutions to the market. I look forward to building on that foundation, helping our issuing partners successfully grow their businesses while strengthening relationships with their customers,” said Seshadri.
Seshadri will join MasterCard on April 11 and will become a member of the company’s Management Committee.(Original Source)
Shares of Mastercard closed yesterday at $95.05, down $0.82 or -0.86%. MA has a 1-year high of $101.76 and a 1-year low of $74.61. The stock’s 50-day moving average is $89.69 and its 200-day moving average is $93.04.
On the ratings front, Mastercard has been the subject of a number of recent research reports. In a report issued on March 28, Morgan Stanley analyst James Faucette initiated coverage with a Buy rating on MA and a price target of $111, which represents a potential upside of 16.8% from where the stock is currently trading. Separately, on February 22, Oppenheimer’s Glenn Greene reiterated a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, James Faucette and Glenn Greene have a total average return of 9.8% and 20.6% respectively. Faucette has a success rate of 74.6% and is ranked #306 out of 3777 analysts, while Greene has a success rate of 79.3% and is ranked #2.
The street is mostly Bullish on MA stock. Out of 7 analysts who cover the stock, 5 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $102.50, which represents a potential upside of 7.8% from where the stock is currently trading.