Adyen initiated with an Outperform at MoffettNathanson

MoffettNathanson analyst Lisa Ellis initiated coverage of Adyen with an Outperform rating and EUR 1,800 price target. The analyst cites the company’s leadership position processing online payments for multinational companies, particularly in the retail, travel, and leisure/entertainment verticals. Ellis adds that Adyen is "distinctive" from an investment perspective, having grown its volumes, net revenues, and net income at CAGRs of 59%, 47%, and 55% respectively over the past five years.