Adyen: A forgivable mistake

Adyen’s sales rose by 25 percent in the third quarter to 169.4 million euros. The transaction volume increased by 26 percent to 77 billion euros. There is an increase in EBITDA of 24 percent to 101.2 million euros.

For 2018, 2019 and 2020 Adyen has also changed the numbers. Revenue, EBITDA and profit are corrected upwards in some cases significantly. Some of the costs had previously been charged twice. Here, too, there are again questions about accounting in the sector; after the Wirecard scandal, people have become more sensitive. The corrections, even if they are positive in this case, do not inspire confidence, according to the analysts at DZ Bank. At the same time, they rate this as a forgivable mistake.

The experts confirm the hold recommendation for the shares of Adyen. The price target increases from 1,600.00 euros to 1,640.00 euros.

Adyen has strong growth prospects. With the high rating, however, these are already largely priced into the course. Society is one of the gains in the eCommerce boom.

The shares of Adyen gain 1.4 percent to 1,522.00 euros.


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