Adyen (OTCMKTS:ADYEY) Sees Large Volume Increase After Analyst Upgrade

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) shares saw unusually-high trading volume on Monday after KeyCorp upgraded the stock to a strong-buy rating. Approximately 891,638 shares changed hands during trading, a decline of 2% from the previous session’s volume of 910,499 shares.The stock last traded at $16.67 and had previously closed at $16.40.

Several other brokerages have also weighed in on ADYEY. Morgan Stanley reiterated an “overweight” rating on shares of Adyen in a report on Friday, January 9th. Wolfe Research raised Adyen from a “hold” rating to an “outperform” rating in a research report on Thursday, January 8th. Jefferies Financial Group reiterated a “buy” rating on shares of Adyen in a report on Wednesday, October 29th. Finally, Wells Fargo & Company initiated coverage on Adyen in a research note on Tuesday, October 21st. They issued an “overweight” rating for the company. Three research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Adyen presently has a consensus rating of “Buy”.

Adyen Trading Down 3.6%

The firm has a 50-day simple moving average of $15.96 and a 200-day simple moving average of $16.52.

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.