Adyen: shares slide after broker initiates coverage
(CercleFinance.com) - Dutch FinTech Adyen saw its shares fall 1% to 593.
9 euros Wednesday on Euronext Amsterdam after Barclays Capital started coverage on the stock with an "underperform" rating.
Meanwhile, the AEX index was down just 0.2 percent.
As a reminder, Adyen had outperformed since its IPO of 13 June, more than doubling its market value compared with a 1.7% rise in the AEX.
Barclays said the 150% share-price rise since IPO makes the stock "one of the most expensive established stocks globally”.
Despite bullish estimates, the broker only reaches a 470-euro price target.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
9 euros Wednesday on Euronext Amsterdam after Barclays Capital started coverage on the stock with an "underperform" rating.
Meanwhile, the AEX index was down just 0.2 percent.
As a reminder, Adyen had outperformed since its IPO of 13 June, more than doubling its market value compared with a 1.7% rise in the AEX.
Barclays said the 150% share-price rise since IPO makes the stock "one of the most expensive established stocks globally”.
Despite bullish estimates, the broker only reaches a 470-euro price target.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.