Adyen (OTCMKTS:ADYEY) Sees Large Volume Increase – Still a Buy?

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) shares saw unusually-strong trading volume on Monday . Approximately 3,840,120 shares changed hands during mid-day trading, an increase of 116% from the previous session’s volume of 1,778,255 shares.The stock last traded at $9.88 and had previously closed at $9.60.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADYEY. BNP Paribas Exane cut Adyen to a “neutral” rating in a research report on Monday, June 1st. BMO Capital Markets started coverage on Adyen in a report on Tuesday, April 21st. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adyen in a research note on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Adyen in a report on Monday, May 4th. Finally, Monness Crespi & Hardt reiterated a “buy” rating on shares of Adyen in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Adyen presently has a consensus rating of “Buy”.

Adyen Trading Up 3.0%

The business’s fifty day moving average is $10.35 and its 200 day moving average is $12.06.

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.