This Fintech Giant Is Soaring: Time to Buy Some Shares?
You can't fault Adyen (OTC: ADYE.Y) (OTC: ADYY.F) investors who just want some peace and calm. The last few months for the financial technology (fintech) behemoth have seen the stock go on a wild ride. After it reported slowing growth and after it shared anecdotal news about pressure on pricing from competitors in its first-half update this summer, share prices of Adyen crashed hard. At one point, its market cap had fallen a little more than $20 billion after rising to roughly $100 billion in the fall of 2021.
Today, the downward trend appears to have at least partially reversed. Shares of Adyen are up 63% over the past month, mostly due to positive investor sentiment coming out of its recent investor day in San Francisco. With the stock headed higher, is it time to hop back on the Adyen stock train?
In its first-half update back in August, Adyen reported another period of strong growth. The payment processor that focuses on enterprises and e-commerce grew its revenue by 21% year over year to 739 million euros through the first six months of 2023. Over the last 12 months, the company generated 1.46 billion euros in revenue.
Source Fool.com
