Down 72% From Its Highs, Is Former Market Darling Adyen Stock Finally a Buy?

Adyen has crashed 72% from its 2021 peak following revised growth guidance, executive departures, and analyst downgrades. The Dutch payments processor, once a market darling, now trades at what bulls argue is a compelling entry point for long-term positions.

The company has delivered 37% annualized growth since 2016, according to The Motley Fool analysis. Recent strategic moves include acquisitions of Talon One and Orb, aimed at expanding its platform capabilities in loyalty and billing infrastructure.

The valuation case centers on forward projections: based on management's 2028 targets, Adyen trades at just 11x forward EBITDA—a steep discount to the premium multiples it commanded during its growth heyday. The question for traders is whether the 72% decline has priced in the deceleration or if further multiple compression awaits as the company navigates a more competitive payments landscape.

The stock's path hinges on whether management can stabilize growth expectations and retain key talent after the executive exodus that contributed to the selloff.