Adyen NV : Key takeaways Money20/20 are positive for Adyen, upgrade to Outperform
>Conclusion: Upgrade to Outperform - Last week we attended the Money20/20 Fintech event in Amsterdam, and in this note we provide the key takeaways for Adyen. We also increase our recommendation for Adyen to an Outperform (was Neutral) and increase our target price to € 3050 (was 2500). Some of the reasons of the upgrade are a) we are even more convinced of the IT lead vs traditional parties, b) the increase in payment options for consumers is benefitting Adyen, c) Ad...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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