Adyen (OTCMKTS:ADYEY) Shares Gap Up – Still a Buy?

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $9.32, but opened at $9.74. Adyen shares last traded at $9.70, with a volume of 45,876 shares.

Analysts Set New Price Targets

A number of research firms have recently commented on ADYEY. Monness Crespi & Hardt reaffirmed a “buy” rating on shares of Adyen in a research report on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating on shares of Adyen in a research note on Monday, May 4th. BMO Capital Markets initiated coverage on shares of Adyen in a report on Tuesday, April 21st. They set an “outperform” rating on the stock. Loop Capital began coverage on shares of Adyen in a research note on Wednesday. They issued a “hold” rating on the stock. Finally, BNP Paribas Exane cut shares of Adyen to a “neutral” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Adyen Stock Down 2.9%

The business has a fifty day moving average price of $10.05 and a 200 day moving average price of $11.66.

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.