Adyen shares hold key support as H1 results approach
Ayen shares remain firmly above key support of 920, and the enlarged partnership with Toast adds an incremental positive fundamental driver heading into earnings. The medium term 1,000 target continues to work with but this picture can be easily altered post earnings on August 13.
The main positive development has been Adyen’s expanded partnership with Toast in the U.S. The move is meaningful in terms of scale: Toast serves roughly 180,000 locations, while payment volume processed through its platform exceeded $215 billion in the 12 months through June 30.
Holding €920 preserves the recovery scenario
ADYEN is still above €920 and this support held a break down towards the €860 reference point last discussed.While €1,000 remains our medium-term target it is fair to assume that the upcoming earnings report on Aug 13 will, if it leads to any unexpected outcome either on the results front or the guidance from management, make any existing price levels somewhat less relevant.
August 13 earnings raise volatility risk
The coming results for the first half of ADYEN on the 13 August will be accompanied by a degree of attention both on growth and the overall outlook for the business and margins.
This may present another scenario whereby pricing moves sharply higher or lower, regardless of previous technical indications, with an event driven reduction in position size ahead of the release perhaps being prudent.
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