Adyen N.V. (ADYEY) was Able to Deliver More Than 20% Revenue Growth in 2023
Harding Loevner, an asset management company, released its “Global Equity Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The stock market recovered in the last quarter of 2023. The market regained all that it lost in the steep decline in 2022. The fund generated 13.21% (13.10% net) compared to 11.15% and 11.53% for the MSCI All Country World Index and MSCI World Index, respectively. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Global Equity Strategy featured stocks such as Adyen N.V. (OTC:ADYEY) in its Q4 2023 investor letter. Headquartered in Amsterdam, the Netherlands, Adyen N.V. (OTC:ADYEY) is a payments platform. On February 8, 2024, Adyen N.V. (OTC:ADYEY) stock closed at $15.37 per share. One-month return of Adyen N.V. (OTC:ADYEY) was 16.98%, and its shares gained 8.61% of their value over the last 52 weeks. Adyen N.V. (OTC:ADYEY) has a market capitalization of $47.698 billion.
Global Equity Strategy stated the following regarding Adyen N.V. (OTC:ADYEY) in its fourth quarter 2023 investor letter:
"By region, the most noteworthy positive contributors were the US and the EMU. Shares of Dutch payments provider Adyen N.V. (OTC:ADYEY) rebounded from an earlier drop that was triggered by the company's lackluster financial results for the first half of the year. Adyen's management alleviated investors' concerns by outlining a three-year plan to deliver greater than 20% annualized revenue growth as well as improve margins."
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Adyen N.V. (OTC:ADYEY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 2 hedge fund portfolios held Adyen N.V. (OTC:ADYEY) at the end of third quarter which was 2 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
