Adyen Shares Face Market Reassessment After Growth Forecast Revision

Adyen NV US00783V1044

The market is reassessing Adyen NV following the payment processor's decision to scale back its medium-term growth targets. This revision has prompted significant adjustments from institutional analysts, even as the company aggressively pursues expansion in the business-to-business sector through strategic partnerships. The central question for investors is whether this partnership-driven growth can offset the newly tempered expectations.

Despite adopting a more conservative financial outlook, Adyen is actively extending its operational reach. The company confirmed a strategic partnership with Mesh Payments on Wednesday to scale its activities in the United Kingdom and Europe. This integration will allow businesses to issue local corporate cards in domestic currencies, with the goal of eliminating foreign exchange fees on cross-border transactions.

This follows Tuesday's announcement of a collaboration with Medius, focused on launching corporate credit cards linked to an accounts payable automation solution. A rollout across the European Union and the UK is scheduled for the first quarter of 2026, with an expansion into the United States planned for later that same year. To boost competitiveness in the corporate spending market, the offering will include a cashback incentive of up to 0.5 percent.

Analyst Reaction: Price Target Slashed, Rating Maintained

In a direct response to the revised guidance, Berenberg Bank significantly reduced its price target for Adyen shares on Tuesday, cutting it from 1,550 euros to 1,000 euros. The bank, however, maintained its "Hold" recommendation.

The catalyst for this adjustment was management's new forecast for net revenue growth in 2026, now set at 20 to 22 percent. This replaces the previous guidance, which pointed to a figure in the low-to-mid twenties percentile range. Market experts view this lowered base for 2026 as a complicating factor for any scenario involving a growth acceleration in subsequent years.