Adyen (OTCMKTS:ADYEY) Shares Gap Down – Time to Sell?

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $11.29, but opened at $10.7649. Adyen shares last traded at $10.93, with a volume of 84,534 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADYEY. Wolfe Research raised Adyen from a “hold” rating to an “outperform” rating in a research note on Thursday, January 8th. Morgan Stanley restated an “overweight” rating on shares of Adyen in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Adyen in a research report on Monday, April 27th. BMO Capital Markets started coverage on shares of Adyen in a research note on Tuesday, April 21st. They issued an “outperform” rating for the company. Finally, Cantor Fitzgerald assumed coverage on shares of Adyen in a report on Monday, January 26th. They issued an “overweight” rating on the stock. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Adyen Stock Performance

The firm has a 50 day moving average of $10.70 and a 200-day moving average of $13.90.

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.