Truist Financial Cuts Riskified (NYSE:RSKD) Price Target to $7.00

Riskified (NYSE:RSKD) had its price objective lowered by research analysts at Truist Financial from $8.00 to $7.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 44.33% from the company’s current price.

A number of other research firms have also commented on RSKD. UBS Group lifted their price objective on shares of Riskified from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Keefe, Bruyette & Woods lifted their target price on shares of Riskified from $5.75 to $6.00 and gave the company a “market perform” rating in a report on Thursday, May 16th. Piper Sandler lowered their target price on shares of Riskified from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group lowered their target price on shares of Riskified from $6.00 to $4.50 and set a “sell” rating on the stock in a report on Thursday. Finally, Barclays lifted their target price on shares of Riskified from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.16.

Riskified Stock Performance

NYSE RSKD opened at $4.85 on Thursday. The firm has a market cap of $864.63 million, a PE ratio of -15.65 and a beta of 1.40. Riskified has a one year low of $3.48 and a one year high of $6.64. The firm’s fifty day moving average is $6.18 and its two-hundred day moving average is $5.54.

Riskified (NYSE:RSKD) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $76.41 million for the quarter, compared to analyst estimates of $75.40 million. Riskified had a negative net margin of 17.28% and a negative return on equity of 9.55%. Research analysts predict that Riskified will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Riskified

A number of institutional investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new position in shares of Riskified in the second quarter valued at approximately $29,000. Quadrature Capital Ltd increased its position in Riskified by 16.7% during the first quarter. Quadrature Capital Ltd now owns 50,357 shares of the company’s stock worth $272,000 after purchasing an additional 7,200 shares during the last quarter. Covestor Ltd increased its position in 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 purchasing an additional 7,543 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Riskified by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,082 shares of the company’s stock worth $122,000 after purchasing an additional 7,609 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Riskified by 0.9% during the first quarter. Acadian Asset Management LLC now owns 879,179 shares of the company’s stock worth $4,743,000 after purchasing an additional 7,644 shares during the last quarter. Institutional investors and hedge funds own 58.98% of the company’s stock.

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.