ADYEN (Buy, TP: EUR1,600, +10%) Adyen - Investor Call: Hiring / NII / Management changes
We hosted Adyen at the end of last week and following FY results on Feb 8th. With supportive detail to round out messaging from the FYs (hiring plans, NII, management changes) there was, nevertheless, nothing to materially change the significant cuts to estimates we made on the day of results (see Adyen FY 22 Model update).Adyen NV, formerly Adyen BV, is provider of mobile, online and point-of-sale (POS) payment solutions based in the Netherlands. It operates an online platform enabling merchants to accept payments internationally and from all sales channels, such as online shops, mobile payments from applications and Websites, and POS, such as countertops, mobile terminals, tablets and cash registers, among others. The platform covers the entire payment chain, including technical, contractual, reconciliation and settlement processes. The platform is available in the form of ready-to-use payment pages (HPP), application programming interface (API), and client-side encryption solution (EE). The Company's customers include Mango, KLM, Netflix, Superdry, Uber, Groupon and Crocs, among others. It has offices in the Netherlands, the United Kingdom, France, Germany, Belgium, Brazil, China, Australia, Mexico, Singapore, Spain, Sweden and the United States.
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