Adyen (OTCMKTS:ADYEY) Sees Strong Trading Volume – Here’s What Happened

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) shares saw an uptick in trading volume on Monday . 5,962,316 shares traded hands during mid-day trading, an increase of 239% from the previous session’s volume of 1,760,958 shares.The stock last traded at $10.69 and had previously closed at $11.07.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Adyen in a research note on Monday, May 4th. Cantor Fitzgerald began coverage on shares of Adyen in a research report on Monday, January 26th. They set an “overweight” rating for the company. Monness Crespi & Hardt restated a “buy” rating on shares of Adyen in a research report on Wednesday, May 6th. BMO Capital Markets began coverage on shares of Adyen in a research report on Tuesday, April 21st. They set an “outperform” rating for the company. Finally, KeyCorp upgraded shares of Adyen to a “strong-buy” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Adyen Stock Performance

The company’s 50 day simple moving average is $10.63 and its two-hundred day simple moving average is $13.60.

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.