Adyen (OTCMKTS:ADYEY) Shares Gap Up – Here’s Why

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) shares gapped up before the market opened on Thursday . The stock had previously closed at $9.78, but opened at $10.30. Adyen shares last traded at $10.30, with a volume of 313,237 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Adyen in a research note on Monday, April 27th. BMO Capital Markets assumed coverage on shares of Adyen in a research note on Tuesday, April 21st. They set an “outperform” rating on the stock. BNP Paribas Exane downgraded shares of Adyen to a “neutral” rating in a research note on Monday. Jefferies Financial Group reissued a “buy” rating on shares of Adyen in a research report on Monday, May 4th. Finally, Monness Crespi & Hardt reissued a “buy” rating on shares of Adyen in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Adyen Price Performance

The stock’s 50-day simple moving average is $10.67 and its 200 day simple moving average is $12.90.

About Adyen

Adyen is a global payments technology company that provides an end-to-end platform for accepting and processing electronic payments across online, mobile and point-of-sale channels. Its core services include payment gateway and acquiring capabilities, fraud prevention and risk management, settlement and reconciliation, and tools for recurring and marketplace payments. The platform is designed to consolidate multiple payment functions into a single integration, enabling merchants to accept a wide range of local and international payment methods and currencies.

Founded in 2006 and headquartered in Amsterdam, Adyen was established by Pieter van der Does and Arnout Schuijff to simplify cross-border payments for international merchants.