Riskified (NYSE:RSKD) Trading 5.3% Higher – Here’s What Happened

Shares of Riskified Ltd. (NYSE:RSKD) rose 5.3% during mid-day trading on Thursday . The company traded as high as $4.84 and last traded at $4.80. Approximately 232,801 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 662,072 shares. The stock had previously closed at $4.56.

Analysts Set New Price Targets

RSKD has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their price objective on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating on the stock in a research note on Thursday. Truist Financial reduced their price objective on shares of Riskified from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. 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 research note on Thursday. DA Davidson raised shares of Riskified to a “hold” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.91.

Riskified Stock Down 6.3 %

The business’s fifty day moving average is $4.58 and its 200 day moving average is $5.38. The firm 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 issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) EPS for the quarter, topping 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 business had revenue of $78.73 million for the quarter, compared to analyst estimates of $78.33 million. Equities research analysts expect that Riskified Ltd. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Riskified

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in shares of Riskified during the second quarter worth $29,000. Covestor Ltd raised its holdings in shares of Riskified by 2,522.7% during the first quarter. Covestor Ltd now owns 7,842 shares of the company’s stock worth $43,000 after acquiring an additional 7,543 shares during the period. Valmark Advisers Inc. acquired a new stake in shares of Riskified during the second quarter worth $104,000. Quantbot Technologies LP acquired a new stake in Riskified in the 3rd quarter valued at $120,000. Finally, Olympiad Research LP acquired a new stake in Riskified in the 3rd quarter valued at $150,000. 58.98% of the stock is currently owned by institutional investors and hedge funds.

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.