PARIS (Reuters) – The action of the specialist in online payments Adyen continues to decline on Monday after a historic plunge last Thursday following the publication of half-year results deemed disappointing.
On the Amsterdam Stock Exchange, the Adyen title lost 5.8% to 821.40 euros at 08:54 GMT, the largest drop in the Stoxx 600 which advanced at the same time by 0.6%.
After a plunge of 38.98% on Thursday and a decline of 2.93% on Friday, the drop of the day brings to 44.5% the plunge accused by Adyen since the publication of its half-year results.
Before Thursday and the announcement of the results, Adyen had already accused four consecutive sessions in the red. Since early August, the action has fallen by 51.7%.
On Monday, analysts at Jefferies and Morgan Stanley downgraded their recommendation on Adyen, following Berenberg on Friday.
Jefferies lowered its advice to “hold” against “buy”, judging that Adyen missed “its last three earnings releases without managing to give confidence on a short-term recovery”.
For its part, Morgan Stanley moved to “line weight” against “overweight”, analysts believing that visibility is “limited” on the short-term outlook.
According to data from Refinitiv, of the 33 analysts covering Adyen, 13 are positioned to buy, 16 have a “hold” recommendation and 4 are “sell”.
(Written by Blandine Hénault, with Olivier Sorgho, edited by Kate Entringer)
Copyright © 2023 Thomson Reuters