LEAWOOD, Kan. - Euronet Worldwide , Inc. (NASDAQ: NASDAQ:EEFT), a prominent financial technology solutions and payments company valued at $4.56 billion, announced the addition of Brad Sprong to its Board of Directors. The appointment, effective as of Monday, expands the board to 11 members. According to InvestingPro data, the company maintains a strong financial health score and has demonstrated consistent profitability over the last twelve months.
Brad Sprong, who brings a wealth of financial expertise, recently concluded a 38-year tenure with KPMG, where he held the position of Managing Partner in the National Private Enterprise division. His experience spans guiding clients through transformations and regulatory shifts, which Euronet believes will enhance the board's collective knowledge.
Euronet's Chairman and CEO, Michael J. Brown, expressed confidence in Sprong's ability to provide valuable insight and guide the company's future direction. The addition is seen as a strategic move to strengthen the board's skill set and align with the company's commitment to board refreshment.
Euronet operates a vast payment network that facilitates digital and cash transactions globally. The network includes over 55,000 ATMs, nearly 950,000 EFT POS terminals, and a money transfer network that reaches approximately 595,000 locations in 198 countries and territories. The company, headquartered in Leawood, Kansas, serves clients through 67 international offices. With an impressive revenue growth of 8.46% and a modest P/E ratio of 14.35, Euronet appears undervalued according to InvestingPro analysis, which offers comprehensive research reports for over 1,400 US stocks.
Sprong's educational background includes a Bachelor of Science degree from William Jewell College in Liberty, Missouri. His extensive background is expected to complement the existing expertise on Euronet's board.
This expansion of Euronet's board comes as the company continues to grow its global footprint in financial technology and payment services. With management actively buying back shares and analysts maintaining positive forecasts, the company shows promising momentum. The information is based on a press release statement from Euronet Worldwide, Inc. and financial data from InvestingPro, which provides additional insights through its detailed analysis tools and ProTips.
In other recent news, Euronet Worldwide has been making significant strides in its financial performance and growth prospects. The company reported a strong third-quarter performance, with record revenues of $1.1 billion and an 11% year-over-year increase in adjusted earnings per share (EPS). The company's leadership expressed confidence in achieving a full-year adjusted EPS growth of 10% to 15%.
Euronet's growth strategy extends beyond its financials. The company is focusing on digital expansion and strategic partnerships, with a particular emphasis on digital remittances and cross-border payments. Additionally, Euronet has made substantial investments in the REN payments platform, Dandelion cross-border payments, and merchant acquiring to ensure its long-term stability and continued revenue growth.
In a recent analysis, Oppenheimer increased the price target for Euronet Worldwide to $135, reflecting a positive outlook on the company's growth prospects. The firm's analysis suggests a 31% upside potential for Euronet's stock and reiterates its Outperform rating, signaling confidence in Euronet's future performance. These recent developments underscore Euronet's commitment to growth and its ability to adapt to the evolving financial landscape.
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