(News Bulletin 247) – Ark Innovation, the fund of the famous investor, increased its positions in the Dutch payment specialist at the start of the week. Analysts, they seem divided on the future of the star of the Amsterdam Stock Exchange.

Star of the Amsterdam Stock Exchange, is the fintech Adyen in the process of forfeiture? The action of the Dutch specialist in online payments has in any case suffered greatly in just a few sessions. If it progresses by 2.7% this Wednesday to 806.30 euros, the title had previously chained eight sessions of declines, including a fall of 39% last Thursday, which constitutes the biggest stock market gamble of the summer for a significant European capitalization (Adyen still weighs 25.3 billion euros on the stock market).

The group had then published results well below expectations on almost all possible indicators. Since August 8, the last session before this black series, the action has been divided by almost two, swallowing up more than 20 billion euros in market capitalization.

Is this dip strong enough to provide an entry point or an incentive for shareholders to strengthen? The “high priestess” of tech, Cathie Wood, seems to have decided yes. A Wall Street star known for her unfailing optimism on Tesla shares (she sees the title reach $2,000 against $228 currently), the investor strengthened in Adyen at the start of the week.

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An aura that has lead in the wing

According to Bloomberg, two ETFs (index funds) from its investment company Ark Investment Management bought Adyen shares on Monday, up to 9 million dollars, and at the rate of 2,900 shares in Amsterdam and 733,000 ADRs (American depositary receipts). , certificates of deposit that allow investors based in the United States to hold foreign shares.

Ark Investment had started investing in Adyen since 2019 and held a total of just under $38 million worth of shares in the Dutch group as of Monday, according to Bloomberg.

As recently pointed out The echoes, the aura of Cathie Wood has however tarnished lately. The flagship tech investor notably missed out on the rally on Nvidia (which incidentally publishes its quarterly results this Wednesday evening), leaving the graphics card specialist in January. Meanwhile, Nvidia exceeded 1000 billion in market capitalization in the spring and has posted an increase of more than 210% since the start of the year, driven by the jump in demand for its graphics processors in connection with the rise of the generative artificial intelligence, at the heart of ChatGPT and Bard.

The “prettiest house in the horrible neighborhood”

To return to Adyen, the research departments seem divided on the stock market future of the (ex?) rising star of the Amsterdam Stock Exchange. Deutsche Bank maintained its buy advice, while reducing its target to 1,325 euros, judging that Adyen is still “the prettiest house in a neighborhood that has become temporarily awful”, praising its ability to cut costs and gain shares Steps. Stifel remains for the time being also on the buy side.

UBS, on Wednesday, slashed its price target to 854 euros against 1641 euros previously, maintaining its opinion at “neutral”. “The online payment market has become more competitive with players such as Adyen, Stripe, Braintree competing on the same customer accounts,” says the Swiss bank, which explains that this situation creates pressure on prices. The establishment still perceives risks for the growth of the Dutch group, while the company lost volumes to its competitors in the first half.

As a reminder, Adyen’s volume growth fell from 41% in the second half of 2022 to 23% in the first six of 2023.

More broadly, according to investing.com, 11 analysts are buying, but 16 are neutral and 2 are selling.