Riskified (NYSE:RSKD) Stock Price Down 5.2% – What’s Next?

Riskified Ltd. (NYSE:RSKD)’s stock price was down 5.2% during mid-day trading on Friday . The company traded as low as $4.53 and last traded at $4.67. Approximately 659,705 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 548,324 shares. The stock had previously closed at $4.92.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RSKD shares. Keefe, Bruyette & Woods decreased their price target 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. UBS Group decreased their price target on Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. The Goldman Sachs Group raised their price target on Riskified from $4.00 to $4.50 and gave the stock a “sell” rating in a research note on Thursday. DA Davidson raised Riskified from a “neutral” rating to a “buy” rating and raised their price target for the stock from $5.00 to $7.00 in a research note on Monday, March 3rd. Finally, Piper Sandler lifted their price objective on Riskified from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.91.

Riskified Trading Down 5.6 %

The firm has a 50 day moving average price of $5.16 and a two-hundred day moving average price of $4.86. The firm has a market capitalization of $828.09 million, a price-to-earnings ratio of -23.22 and a beta of 1.37.

Riskified declared that its board has approved a stock 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 purchase up to 9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Riskified

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd lifted its position in Riskified by 76.0% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock worth $31,854,000 after acquiring an additional 2,907,585 shares in the last quarter. Jennison Associates LLC lifted its position in Riskified by 0.3% during the 4th quarter. Jennison Associates LLC now owns 5,701,408 shares of the company’s stock worth $26,968,000 after acquiring an additional 19,264 shares in the last quarter. Harvey Partners LLC lifted its position in Riskified by 9.7% during the 3rd 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 in the last quarter. Clearline Capital LP lifted its position in Riskified by 10.3% during the 3rd 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Riskified by 2.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,181,400 shares of the company’s stock worth $5,588,000 after acquiring an additional 26,200 shares in the last quarter. 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.