Adyen (OTCMKTS:ADYEY) Hits New 52-Week Low – Should You Sell?

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $9.4950 and last traded at $9.4950, with a volume of 82655 shares changing hands. The stock had previously closed at $9.96.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. KeyCorp raised Adyen to a “strong-buy” rating in a research note on Friday, January 23rd. Cantor Fitzgerald began coverage on shares of Adyen in a research note on Monday, January 26th. They set an “overweight” rating for the company. Morgan Stanley reissued an “overweight” rating on shares of Adyen in a research note on Friday, January 9th. Finally, Wolfe Research upgraded Adyen from a “hold” rating to an “outperform” rating in a report on Thursday, January 8th. Three investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Adyen Stock Performance

The company has a 50-day moving average of $11.67 and a 200-day moving average of $14.67.

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.