Brokerages Set Riskified Ltd. (NYSE:RSKD) PT at $5.84

Riskified Ltd. (NYSE:RSKD) has been assigned a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.84.

A number of equities analysts recently issued reports on RSKD shares. Truist Financial decreased their target price on shares of Riskified from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Barclays dropped their target price on Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. The Goldman Sachs Group decreased their price target on Riskified from $4.50 to $4.00 and set a “sell” rating for the company in a research note on Monday, December 2nd. JPMorgan Chase & Co. boosted their price objective on Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, DA Davidson raised Riskified to a “hold” rating in a research note on Thursday, November 14th.

Institutional Investors Weigh In On Riskified

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC acquired a new position in shares of Riskified during the 1st quarter worth $547,000. Harvey Partners LLC raised its stake in shares of Riskified by 9.7% in the 3rd quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock valued at $15,266,000 after acquiring an additional 286,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Riskified by 61.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,143 shares of the company’s stock worth $1,481,000 after purchasing an additional 119,038 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Riskified by 37.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,052,944 shares of the company’s stock valued at $4,980,000 after purchasing an additional 286,603 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Riskified by 11.2% in the third quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock valued at $26,877,000 after purchasing an additional 573,596 shares during the period. 58.98% of the stock is owned by hedge funds and other institutional investors.

Riskified Trading Up 2.4 %

Shares of NYSE:RSKD opened at $5.02 on Thursday. The firm’s 50 day moving average is $4.58 and its two-hundred day moving average is $5.31. The firm has a market capitalization of $894.92 million, a P/E ratio of -25.10 and a beta of 1.38. Riskified has a 52 week low of $4.14 and a 52 week high of $6.64.

Riskified (NYSE:RSKD) last posted its earnings results on Wednesday, November 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Riskified had a negative return on equity of 6.00% and a negative net margin of 10.72%. The firm had revenue of $78.80 million for the quarter, compared to analysts’ expectations of $75.01 million. During the same period last year, the firm earned ($0.12) EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Analysts predict that Riskified will post -0.15 EPS for the current year.

Riskified announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 13th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Riskified Company Profile

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.