Few companies have seen a stock price roller-coaster quite like Adyen, the Dutch payment processing firm.
Adyen
ADYEN,
ADYEY,
which has a devoted following on the social-media service X that is unusual for a European company, has seen its stock double off the intraday low in late October.
That’s coming in the same year in which its stock saw a one-day 39% slide, following a first-half profit warning. Adyen has reeled from the aggressive price-cutting moves from rival PayPal’s
PYPL,
Braintree Payments division.
Last week, analysts at Citi gave the firm a double upgrade, to buy from sell, and moved their price target all the way up to €1,400 from €695.
“We maintain that increased competition is structural, but see better data capabilities from Adyen’s single platform and strong unified commerce offering (vs key competitors not having an on-premise presence) in providing better customer intelligence, improving authorization rates. This is supported by our proprietary survey of ~50 large online merchants,” they said.
Adyen shares rose another 2% on Monday.
Also in the spotlight, Solvay
SOLB,
specialties chemicals spinoff Syensquo rose 12% in its trading debut.
The broader Stoxx Europe 600
XX:SXXP
was nearly flat, with trading muted ahead of Tuesday’s U.S. CPI reading.
