Adyen (OTCMKTS:ADYEY) Sees Large Volume Increase – Should You Buy?

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) shares saw unusually-high trading volume on Friday . 4,746,175 shares traded hands during mid-day trading, an increase of 179% from the previous session’s volume of 1,699,637 shares.The stock last traded at $9.36 and had previously closed at $9.29.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Monness Crespi & Hardt reaffirmed a “buy” rating on shares of Adyen in a report on Wednesday, May 6th. BMO Capital Markets started coverage on Adyen in a report on Tuesday, April 21st. They issued an “outperform” rating for the company. BNP Paribas Exane lowered shares of Adyen to a “neutral” rating in a research report on Monday, June 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Adyen in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Adyen in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy”.

Adyen Price Performance

The firm’s fifty day simple moving average is $10.53 and its 200-day simple moving average is $12.30.

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.