New Buy Rating for Adyen (ADYYF), the Technology Giant

Goldman Sachs analyst Mohammed Moawalla reiterated a Buy rating on Adyen today and set a price target of €2,100.00. The company’s shares closed yesterday at $1,630.00.

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Moawalla covers the Technology sector, focusing on stocks such as Indra Sistemas, Temenos, and Wise PLC Class A. According to TipRanks, Moawalla has an average return of 4.8% and a 45.17% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Adyen with a $2,269.79 average price target, implying a 39.25% upside from current levels. In a report released on September 24, Jefferies also maintained a Buy rating on the stock with a €1,835.00 price target.

Based on Adyen’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.25 billion and a net profit of $240.48 million. In comparison, last year the company earned a revenue of $1.21 billion and had a net profit of $409.61 million

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADYYF in relation to earlier this year.