Riskified (NYSE:RSKD) Shares Gap Down on Analyst Downgrade

Riskified Ltd. (NYSE:RSKD)’s stock price gapped down prior to trading on Friday after UBS Group lowered their price target on the stock from $4.75 to $4.50. The stock had previously closed at $4.63, but opened at $4.46. UBS Group currently has a neutral rating on the stock. Riskified shares last traded at $4.48, with a volume of 163,453 shares changing hands.

RSKD has been the subject of several other research reports. DA Davidson upgraded shares of Riskified to a “hold” rating in a research report on Wednesday, September 11th. Truist Financial dropped 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. JPMorgan Chase & Co. upped their target price on shares of Riskified from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Barclays dropped their target price on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, The Goldman Sachs Group decreased their price target on shares of Riskified from $6.00 to $4.50 and set a “sell” rating for the company in a report on Thursday, August 15th. One investment 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. Based on data from MarketBeat.com, Riskified presently has an average rating of “Hold” and a consensus target price of $5.91.

Hedge Funds Weigh In On Riskified

A number of large investors have recently modified their holdings of the business. Barclays PLC lifted its stake in Riskified by 106.6% in the 3rd quarter. Barclays PLC now owns 39,174 shares of the company’s stock valued at $186,000 after purchasing an additional 20,213 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Riskified during the third quarter worth approximately $1,438,000. State Street Corp lifted its position in Riskified by 0.9% during the third quarter. State Street Corp now owns 745,593 shares of the company’s stock worth $3,527,000 after acquiring an additional 6,927 shares during the last quarter. Harvey Partners LLC lifted its position in Riskified by 9.7% during the third quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock worth $15,266,000 after acquiring an additional 286,500 shares during the last quarter. Finally, Clearline Capital LP lifted its position in Riskified by 10.3% during the third quarter. Clearline Capital LP now owns 1,853,922 shares of the company’s stock worth $8,769,000 after acquiring an additional 173,694 shares during the last quarter. 58.98% of the stock is currently owned by institutional investors and hedge funds.

Riskified Price Performance

The company’s 50-day simple moving average is $4.58 and its 200-day simple moving average is $5.39. The stock has a market capitalization of $773.71 million, a price-to-earnings ratio of -21.70 and a beta of 1.36.

Riskified (NYSE:RSKD) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Riskified had a negative net margin of 10.72% and a negative return on equity of 5.77%. The company had revenue of $78.73 million during the quarter, compared to the consensus estimate of $78.33 million. Research analysts expect that Riskified Ltd. will post -0.17 earnings per share for the current year.

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.