Riskified (NYSE:RSKD) Earns Overweight Rating from Piper Sandler

Riskified (NYSE:RSKD)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a research note issued on Thursday,Benzinga reports. They presently have a $7.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 61.29% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Truist Financial dropped their price target on Riskified from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped 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. Barclays cut their price objective on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. UBS Group decreased their target price on shares of Riskified from $6.00 to $4.75 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Finally, DA Davidson upgraded Riskified to a “hold” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.91.

Riskified Price Performance

Shares of RSKD stock opened at $4.34 on Thursday. The company’s fifty day moving average price is $4.58 and its two-hundred day moving average price is $5.38. The firm has a market capitalization of $773.71 million, a P/E ratio of -21.70 and a beta of 1.36. Riskified has a 12 month low of $3.90 and a 12 month high of $6.64.

Riskified (NYSE:RSKD) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Riskified had a negative return on equity of 5.77% and a negative net margin of 10.72%. The firm had revenue of $78.73 million during the quarter, compared to analyst estimates of $78.33 million. On average, sell-side analysts anticipate that Riskified will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Riskified by 76.0% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock valued at $31,854,000 after purchasing an additional 2,907,585 shares in the last quarter. Jennison Associates LLC boosted its holdings in Riskified by 11.2% during the third quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock worth $26,877,000 after buying an additional 573,596 shares in the last quarter. Harvey Partners LLC boosted its holdings in Riskified by 9.7% during the third quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock worth $15,266,000 after buying an additional 286,500 shares in the last quarter. Acadian Asset Management LLC grew its position in Riskified by 199.4% in the second quarter. Acadian Asset Management LLC now owns 2,632,439 shares of the company’s stock worth $16,803,000 after buying an additional 1,753,260 shares during the last quarter. Finally, Clearline Capital LP increased its holdings in shares of Riskified by 10.3% in the third quarter. Clearline Capital LP now owns 1,853,922 shares of the company’s stock valued at $8,769,000 after buying an additional 173,694 shares in the last quarter. 58.98% of the stock is 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.