Adyen (OTCMKTS:ADYEY) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Unusually-high trading volume: About 3,806,344 shares traded (up 125% vs. the prior session); the stock last traded at $11.37 after a $11.45 close.
• Positive analyst sentiment: Multiple brokerages recently initiated or upgraded coverage (Cantor Fitzgerald, KeyCorp, Wolfe Research, BMO, Morgan Stanley), leaving Adyen with an average rating of "Buy" (2 Strong Buy, 8 Buy).
• Technical position: The shares sit above the 50-day moving average ($10.71) but remain below the 200-day moving average ($14.06), indicating short-term strength within a longer-term downtrend.

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY - Get Free Report) saw unusually-high trading volume on Monday . Approximately 3,806,344 shares were traded during trading, an increase of 125% from the previous session's volume of 1,694,918 shares.The stock last traded at $11.37 and had previously closed at $11.45.

Wall Street Analyst Weigh In

Several brokerages recently commented on ADYEY. Cantor Fitzgerald began coverage on shares of Adyen in a research report on Monday, January 26th. They issued an "overweight" rating for the company. KeyCorp raised shares of Adyen to a "strong-buy" rating in a research report on Friday, January 23rd. Wolfe Research upgraded shares of Adyen from a "hold" rating to an "outperform" rating in a research note on Thursday, January 8th. BMO Capital Markets assumed coverage on shares of Adyen in a report on Tuesday, April 21st. They issued an "outperform" rating for the company. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Adyen in a research note on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to data from MarketBeat, Adyen presently has an average rating of "Buy".

Adyen Price Performance

The firm's fifty day simple moving average is $10.71 and its 200 day simple moving average is $14.06.

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.

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