Goldman Sachs sees 111 percent upside for Adyen stock

Published on 10/06/2026 at 11:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adyen booked EUR 1.30 billion net revenue in the first half of 2026, up 19 percent. Adyen stock costs EUR 874.30 on October 6, 2026 after EUR 863.75.

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Adyen (ISIN NL0012969182) was assigned 111 percent upside by Goldman Sachs in its October conviction list, CNBC reported on October 2, 2026. At Lang & Schwarz, the stock was trading at EUR 874.30 on October 6, 2026 at 11:34 a.m. CEST, up 1.22 percent versus the prior close of EUR 863.75. The combination puts valuation expectations beside a payment business still posting double-digit growth.

Goldman adds a valuation signal

Goldman Sachs included Adyen among its European conviction picks for October and sees 111 percent upside, according to CNBC on October 2, 2026. The figure is an analyst assessment rather than a Lang & Schwarz price move, so the key question is whether operating growth can support the valuation implied by the call.

The market capitalization was EUR 27.7 billion on October 6, 2026, while the 52-week range stood at EUR 772.40 to EUR 1,600.80. The Lang & Schwarz price was 45.38 percent below that 52-week high, calculated from the same-euro reference values.

First-half growth outpaces revenue

Adyen reported EUR 1.303 billion of net revenue in the first half of 2026, up 19 percent from the prior year, while EBITDA rose 18 percent to EUR 641.5 million, De Belegger reported on October 4, 2026. The adjusted EBITDA margin reached 50 percent after excluding EUR 6.0 million in one-time acquisition costs.

Processed volume increased 24 percent to EUR 803.8 billion in the same period, faster than net revenue growth. That gap makes revenue quality and the mix of payment services more important than processed volume alone, because volume growth does not automatically translate into the same rate of net revenue growth.

October dates set the next test

Adyen's investor-relations calendar lists an extraordinary general meeting for October 7, 2026 and a third-quarter business update for October 28, 2026. The company lists both events on its investor-relations page. The October 28 update is the next scheduled operating checkpoint after the first-half figures.

Stock stays below the yearly high

Adyen stock was trading at EUR 874.30 at Lang & Schwarz on October 6, 2026 at 11:34 a.m. CEST, compared with the EUR 863.75 prior close of October 5, 2026. The current price is 45.38 percent below the EUR 1,600.80 52-week high and sits within the EUR 772.40 to EUR 1,600.80 range reported for October 6, 2026.
The further course of trading is shown by the continuously updated real-time quote of Adyen stock.