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

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BMO Capital Markets restated an “outperform” rating on shares of Adyen in a research report on Friday, August 14th. Scotiabank initiated coverage on shares of Adyen in a research note on Wednesday. They issued an “outperform” rating on the stock. Loop Capital began coverage on Adyen in a report on Wednesday, July 15th. They issued a “hold” rating on the stock. Wolfe Research reiterated an “outperform” rating on shares of Adyen in a research note on Tuesday, August 25th. Finally, BNP Paribas Exane cut 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, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Adyen Price Performance

The stock’s 50-day moving average price is $10.61 and its 200 day moving average price is $10.59.

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.