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

Riskified (NYSE:RSKD) had its target price cut by Piper Sandler from $7.00 to $6.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

RSKD has been the topic of several other research reports. Keefe, Bruyette & Woods decreased their target price on Riskified from $5.50 to $5.25 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. The Goldman Sachs Group cut their price target on shares of Riskified from $4.50 to $4.00 and set a “sell” rating on the stock in a research note on Monday, December 2nd. UBS Group lowered their price objective on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, DA Davidson raised shares of Riskified to a “hold” rating in a research note on Thursday, November 14th. 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, Riskified currently has an average rating of “Hold” and an average target price of $5.72.

Riskified Price Performance

Shares of RSKD opened at $4.72 on Wednesday. The firm has a 50-day simple moving average of $4.72 and a two-hundred day simple moving average of $5.09. The stock has a market cap of $841.46 million, a PE ratio of -23.60 and a beta of 1.37. Riskified has a 1-year low of $4.14 and a 1-year high of $6.64.

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

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

Institutional Trading of Riskified

A number of hedge funds and other institutional investors have recently bought and sold shares of RSKD. Algert Global LLC lifted its position in shares of Riskified by 7.1% during the 2nd quarter. Algert Global LLC now owns 43,324 shares of the company’s stock worth $277,000 after buying an additional 2,854 shares during the last quarter. Tidal Investments LLC lifted its position in Riskified by 4.8% in the third quarter. Tidal Investments LLC now owns 100,525 shares of the company’s stock valued at $475,000 after acquiring an additional 4,616 shares during the last quarter. State Street Corp boosted its stake in Riskified by 0.9% in the third quarter. State Street Corp now owns 745,593 shares of the company’s stock valued at $3,527,000 after acquiring an additional 6,927 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Riskified by 18.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 75,058 shares of the company’s stock worth $480,000 after purchasing an additional 11,574 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Riskified by 1.8% during the third quarter. JPMorgan Chase & Co. now owns 875,723 shares of the company’s stock worth $4,142,000 after purchasing an additional 15,250 shares in the last quarter. 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.