Adyen (OTCMKTS:ADYEY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) saw unusually-high trading volume on Tuesday . Approximately 3,807,715 shares changed hands during trading, an increase of 189% from the previous session’s volume of 1,318,241 shares.The stock last traded at $11.26 and had previously closed at $10.72.

Analysts Set New Price Targets

ADYEY has been the topic of a number of research reports. Wells Fargo & Company assumed coverage on Adyen in a research note on Tuesday, October 21st. They issued an “overweight” rating on the stock. Cantor Fitzgerald initiated coverage on shares of Adyen in a report on Monday, January 26th. They issued an “overweight” rating for the company. Wolfe Research upgraded shares of Adyen from a “hold” rating to an “outperform” rating in a research report on Thursday, January 8th. KeyCorp upgraded shares of Adyen to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Adyen in a research note on Friday, January 9th. Three equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to MarketBeat, Adyen presently has an average rating of “Buy”.

Adyen Stock Performance

The company has a 50-day simple moving average of $15.43 and a 200-day simple moving average of $16.09.

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.