The Goldman Sachs Group Forecasts Strong Price Appreciation for Riskified (NYSE:RSKD) Stock

Riskified (NYSE:RSKD) had its price objective hoisted by The Goldman Sachs Group from $4.00 to $4.50 in a report published on Thursday,Benzinga reports. They currently have a sell rating on the stock.

Several other equities analysts also recently weighed in on the stock. UBS Group lowered their price target on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Keefe, Bruyette & Woods lowered their target price 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, November 14th. Piper Sandler increased their price target on Riskified from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, DA Davidson upgraded Riskified from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $5.00 to $7.00 in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.91.

Riskified Stock Down 5.3 %

NYSE RSKD opened at $4.94 on Thursday. Riskified has a 52 week low of $4.14 and a 52 week high of $6.64. The company has a market capitalization of $879.79 million, a P/E ratio of -24.67 and a beta of 1.37. The stock’s 50-day moving average price is $5.16 and its 200-day moving average price is $4.86.

Riskified announced that its Board of Directors has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Riskified

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of Riskified during the 4th quarter valued at approximately $38,000. Group One Trading LLC increased its position in Riskified by 4,503.5% in the fourth quarter. Group One Trading LLC now owns 8,719 shares of the company’s stock worth $41,000 after purchasing an additional 8,917 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in Riskified during the fourth quarter valued at $56,000. Cubist Systematic Strategies LLC bought a new position in Riskified during the fourth quarter valued at $74,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Riskified in the 4th quarter worth $88,000. 58.98% of the stock is owned by institutional investors.

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.