Riskified (NYSE:RSKD) Upgraded by DA Davidson to “Hold”

DA Davidson upgraded shares of Riskified (NYSE:RSKD) to a hold rating in a report released on Wednesday morning, Zacks.com reports. DA Davidson also issued estimates for Riskified’s Q3 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.16) EPS and FY2025 earnings at ($0.06) EPS.

A number of other research firms have also recently weighed in on RSKD. The Goldman Sachs Group decreased their price target on Riskified from $6.00 to $4.50 and set a sell rating for the company in a report on Thursday, August 15th. UBS Group decreased their price target on Riskified from $6.00 to $4.75 and set a neutral rating for the company in a report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price target on Riskified from $5.75 to $6.00 and gave the stock a market perform rating in a report on Thursday, May 16th. JPMorgan Chase & Co. upped their price target on Riskified from $6.00 to $7.00 and gave the stock a neutral rating in a report on Tuesday, August 20th. Finally, Piper Sandler decreased their price target on Riskified from $8.00 to $7.00 and set an overweight rating for the company in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Riskified presently has a consensus rating of Hold and a consensus price target of $6.03.

Riskified Price Performance

NYSE RSKD opened at $4.70 on Wednesday. The company has a 50-day moving average of $5.53 and a 200-day moving average of $5.56. The company has a market cap of $837.87 million, a P/E ratio of -15.16 and a beta of 1.37. Riskified has a 12 month low of $3.48 and a 12 month high of $6.64.

Riskified (NYSE:RSKD) last posted its earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $78.73 million during the quarter, compared to the consensus estimate of $78.33 million. Riskified had a negative net margin of 14.57% and a negative return on equity of 8.33%. As a group, equities research analysts anticipate that Riskified will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Riskified

Several institutional investors and hedge funds have recently made changes to their positions in RSKD. nVerses Capital LLC purchased a new position in shares of Riskified during the 2nd quarter valued at approximately $29,000. Covestor Ltd raised its position in shares of Riskified by 2,522.7% during the 1st quarter. Covestor Ltd now owns 7,842 shares of the company’s stock valued at $43,000 after acquiring an additional 7,543 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Riskified during the 4th quarter valued at approximately $84,000. Valmark Advisers Inc. acquired a new stake in shares of Riskified during the 2nd quarter valued at approximately $104,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Riskified during the 2nd quarter valued at approximately $163,000. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

About Riskified

Riskified Ltd., together with its subsidiaries, develops and offers an e-commerce risk management platform that allows online merchants to create trusted relationships with consumers in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. It offers Chargeback Guarantee that ensures the legitimacy of merchants' online orders; Policy Protect, a machine learning solution designed to detect and prevent refund and returns policy abuse in real-time; Account Secure, a solution that cross-checks every login attempt; Dispute Resolve, which is used to compile submissions for fraud and non-fraud related chargeback issues; and PSD2 Optimize that helps merchants avoid bank authorization failures and abandoned shopping carts.