📉 Adyen's Most Bearish Analyst Predicts More Stock Declines

- Citigroup's Pavan Daswani lowers price target to €750 from €1,050

- Implies a further 14% downside over the next 12 months

- Maintains sell rating on the stock

💼 Skeptical of Adyen's long-term margin target

- Pressure from high level of hiring, multiyear investments, increased competition

📉 Adyen's first-half results missed estimates

- $20 billion market value wiped out in a single day

- Shares fell 7.8% in Amsterdam trading, 45% decline since Thursday's results

📉 Morgan Stanley downgrades Adyen to equal-weight