- The 2020 results for Adyen showed a deceleration of growth.
- Performance in the region North America is lagging, but the outlook is positive.
- Management used the year to significantly expand the number of employees and position itself for further expansion.
- With competition increasing and a large dependency on several large customers, net revenue growth is likely to align with the company target of a CAGR between the mid-20s and low-30s.
- Since the beginning of this year, the stock roughly traded sideways, so a stock price target of €2200 for the next half year seems appropriate.
For further details see:
Adyen: Growth Is Decelerating, Expect The Stock To Trade Sideways