Adyen: Maintaining Buy on Solid Momentum, Attractive Valuation, and Emerging Growth Initiatives

In a report released today, Hannes Leitner from Jefferies maintained a Buy rating on Adyen, with a price target of €1,850.00.

Hannes Leitner has given his Buy rating due to a combination of factors that point to solid momentum and attractive upside for Adyen. He notes that the company’s underlying activity indicators, such as web traffic, continue to trend higher, suggesting ongoing strength in customer engagement and transaction volumes even as Q4 closes. Although year-end shopping data is still somewhat sparse, the available evidence does not contradict the positive operational picture. In addition, he views the current valuation as appealing relative to Adyen’s growth prospects and competitive positioning in global payments.

Hannes Leitner’s rating is based on the expectation that these operational and strategic drivers will support performance into Q4 and through 2026. His constructive stance is further underpinned by signs of product expansion, including a newly advertised senior role to build out a credit card issuing offering in the US, which could open new revenue streams and deepen client relationships. Combined, these indicators of growth, diversification, and reasonable pricing form the basis for maintaining a Buy recommendation on Adyen’s shares.