Goldman Sachs analyst Mohammed Moawalla raised the firm’s price target on Adyen to EUR 2,000 from EUR 1,600 and keeps a Buy rating on the shares. The company’s second half of 2023 results demonstrated recovery in its revenue and margin trajectory, which underscores Adyen’s strong fundamental positioning, the analyst tells investors in a research note. The firm sees Adyen “entering a sweet-spot” of accelerating revenue growth and meaningful margin expansion, driving an elevated earnings growth profile which can further compound into the medium term.
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Read More on ADYEY:
- Adyen price target raised to EUR 1,585 from EUR 1,300 at Barclays
- Adyen price target raised to EUR 1,205 from EUR 1,100 at Morgan Stanley
- Adyen price target raised to EUR 1,730 from EUR 1,325 at Deutsche Bank
- Adyen upgraded to Outperform from Market Perform at TD Cowen
- Adyen upgraded to Outperform from Peer Perform at Wolfe Research
