Riskified (NYSE:RSKD) Price Target Cut to $6.00 by Analysts at Piper Sandler

Riskified (NYSE:RSKD) had its price target dropped by analysts at Piper Sandler from $7.00 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 27.12% from the stock’s previous close.

Several other research firms have also recently issued reports on RSKD. DA Davidson upgraded shares of Riskified to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reduced their target price on Riskified from $4.50 to $4.00 and set a “sell” rating on the stock in a research report on Monday, December 2nd. Keefe, Bruyette & Woods lowered their price target on Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a report on Thursday, November 14th. Finally, UBS Group reduced their price objective on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.72.

Riskified Price Performance

RSKD opened at $4.72 on Wednesday. The firm has a market capitalization of $841.46 million, a price-to-earnings ratio of -23.60 and a beta of 1.37. The company’s 50 day simple moving average is $4.72 and its two-hundred day simple moving average is $5.09. Riskified has a 1-year low of $4.14 and a 1-year high of $6.64.

Riskified (NYSE:RSKD) last announced its quarterly earnings data on Wednesday, November 13th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $78.80 million for the quarter, compared to the consensus estimate of $75.01 million. Riskified had a negative return on equity of 6.00% and a negative net margin of 10.72%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) earnings per share. On average, equities analysts anticipate that Riskified will post -0.15 earnings per share for the current fiscal year.

Riskified declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 13th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Riskified

Several institutional investors have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D acquired a new position in shares of Riskified in the second quarter worth $208,000. Renaissance Technologies LLC boosted its holdings in Riskified by 17.2% in the second quarter. Renaissance Technologies LLC now owns 1,118,900 shares of the company’s stock valued at $7,150,000 after purchasing an additional 164,600 shares during the period. XTX Topco Ltd acquired a new position in Riskified during the 2nd quarter worth $528,000. Sei Investments Co. increased its holdings in Riskified by 110.8% during the 2nd quarter. Sei Investments Co. now owns 34,991 shares of the company’s stock worth $224,000 after purchasing an additional 18,392 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Riskified in the 2nd quarter valued at about $163,000. 58.98% of the stock is owned by institutional investors and hedge funds.

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.