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

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $11.58, but opened at $11.95. Adyen shares last traded at $11.96, with a volume of 38,924 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on ADYEY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Adyen in a report on Friday, August 14th. BNP Paribas Exane lowered Adyen to a “neutral” rating in a research note on Monday, June 1st. BMO Capital Markets reiterated an “outperform” rating on shares of Adyen in a report on Friday, August 14th. Loop Capital initiated coverage on shares of Adyen in a research report on Wednesday, July 15th. They set a “hold” rating on the stock. Finally, Monness Crespi & Hardt restated a “buy” rating on shares of Adyen in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Adyen Stock Performance

The business’s 50-day moving average is $10.50 and its 200-day moving average is $10.57.

Adyen Company Profile

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.