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

Shares of Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) saw an uptick in trading volume on Tuesday . 3,807,715 shares were traded during mid-day trading, an increase of 189% from the previous session’s volume of 1,318,241 shares.The stock last traded at $11.26 and had previously closed at $10.72.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADYEY. Morgan Stanley reissued an “overweight” rating on shares of Adyen in a report on Friday, January 9th. Cantor Fitzgerald began coverage on shares of Adyen in a research note on Monday, January 26th. They issued an “overweight” rating for the company. Wolfe Research upgraded shares of 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 research report on Wednesday, October 29th. Finally, KeyCorp raised Adyen to a “strong-buy” rating in a research report on Friday, January 23rd. Three research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, Adyen has an average rating of “Buy”.

Adyen Trading Up 1.5%

The stock’s fifty day moving average price is $15.19 and its two-hundred day moving average price is $15.99.

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.