Adyen downgraded to Equal Weight from Overweight at Barclays

Barclays analyst James Goodman downgraded Adyen to Equal Weight from Overweight with an unchanged price target of EUR 1,600. LinkedIn-based data suggests the pace of hiring remained elevated in the first of 2023, putting pressure on Adyen’s EBITDA, the analyst tells investors in a research note. The firm says growth of the company’s existing customers has also slowed, limiting the possibility of revenue upside.