Monness Crespi ‘more constructive’ on Adyen after earnings

Monness Crespi analyst Gus Gala is “more constructive” on Adyen shares after the company reported second half of FY23 results that were in-line with expectations for revenue and ahead of consensus and the firm’s estimates in terms of EBITDA. The firm is more positive on Adyen’s prospects following EBITDA margin outperformance, strong new client signings, and “building signs that the shift to a total cost of ownership payments pricing paradigm is gaining traction with existing merchants,” though it reiterates a Neutral rating on the shares with no price target.