Note

Exela Renews Partnership with Mastercard in EMEA

· Views 107

Exela Renews Partnership with Mastercard in EMEA

Business process automation company Exela Technologies, Inc. (NASDAQ:XELA) recently announced the renewal and expansion of its partnership with financial services major Mastercard (NYSE:MA) for the Europe, Middle East, and Africa (EMEA) region.

Shares of Exela reacted in a volatile manner to the news and fell 7.1% on Wednesday. The stock pared its loss almost 3% to close at $0.62 in the extended trading session.

Strategic Impact

The renewal of the partnership will involve Exela developing and deploying a new solution using optical/intelligent character reading to automate the content extraction of payment documents in the Brevgiro service in Norway.

Also, the solution will involve Exela in providing automated signature verification of payment transactions. This solution will be used to process over 11 million Giro payments in Norway.

Management Commentary

The President of Exela EMEA, Vitalie Robu, said, “We are proud to continue developing our partnership with Mastercard and look forward to servicing the entire Norwegian Giro payments market, this solution is part of our global XBP rollout.”

 

Price Target

The Wall Street community is cautiously optimistic about the stock and has a Moderate Buy consensus rating based on 2 Buys. The average Exela price target of $4 implies that the stock has upside potential of 563.9% from current levels. Shares have declined about 78.6% over the past year.

Negative Sentiment

TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on XELA, as 15.4% of investors on TipRanks have decreased their exposure to XELA stock over the past 30 days.

 

© TipRanks. Copyright and all rights therein are retained by authors.

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.