Adyen (OTCMKTS:ADYEY) Sees Large Volume Increase – What’s Next?

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) shares saw strong trading volume on Tuesday . Approximately 4,195,534 shares were traded during mid-day trading, an increase of 124% from the previous session’s volume of 1,872,306 shares.The stock last traded at $12.24 and had previously closed at $11.98.

Analysts Set New Price Targets

ADYEY has been the topic of several analyst reports. BNP Paribas Exane lowered shares of Adyen to a “neutral” rating in a research note on Monday, June 1st. Loop Capital initiated coverage on Adyen in a research note on Wednesday, July 15th. They set a “hold” rating for the company. Monness Crespi & Hardt reaffirmed a “buy” rating on shares of Adyen in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Adyen in a report on Friday, August 14th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Adyen in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Adyen Price Performance

The business has a 50 day moving average of $10.05 and a 200 day moving average of $10.68.

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.