Adyen (OTCMKTS:ADYEY) Shares Gap Up – Time to Buy?

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY)’s share price gapped up prior to trading 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

ADYEY has been the topic of a number of recent analyst reports. BNP Paribas Exane cut shares of Adyen to a “neutral” rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adyen in a report on Monday, April 27th. Monness Crespi & Hardt reaffirmed a “buy” rating on shares of Adyen in a research report on Wednesday, May 6th. BMO Capital Markets assumed coverage on Adyen in a research note on Tuesday, April 21st. They set an “outperform” rating on the stock. Finally, Loop Capital initiated coverage on Adyen in a report on Wednesday. They issued a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Adyen Trading Up 5.9%

The firm’s fifty day moving average price is $10.10 and its two-hundred day moving average price is $11.75.

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.