Riskified (NYSE:RSKD) Shares Gap Down – Time to Sell?

Shares of Riskified Ltd. (NYSE:RSKD) gapped down before the market opened on Wednesday . The stock had previously closed at $5.06, but opened at $4.65. Riskified shares last traded at $5.04, with a volume of 317,801 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. DA Davidson raised Riskified from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.00 to $7.00 in a report on Monday. Keefe, Bruyette & Woods dropped their price target 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. The Goldman Sachs Group raised their price objective on shares of Riskified from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Thursday. Piper Sandler lifted their target price on shares of Riskified from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, UBS Group reduced their price target on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.91.

Riskified Stock Down 5.3 %

The stock’s 50 day moving average price is $5.16 and its 200-day moving average price is $4.86. The stock has a market capitalization of $879.79 million, a PE ratio of -24.67 and a beta of 1.37.

Riskified announced that its board has approved a share buyback plan on Wednesday, November 13th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Riskified

A number of hedge funds have recently made changes to their positions in RSKD. Carolinas Wealth Consulting LLC purchased a new position in Riskified in the 4th quarter worth approximately $189,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Riskified by 10.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,262 shares of the company’s stock valued at $1,037,000 after buying an additional 20,505 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Riskified by 61.5% during the fourth quarter. Two Sigma Investments LP now owns 25,490 shares of the company’s stock worth $121,000 after acquiring an additional 9,711 shares during the last quarter. Two Sigma Advisers LP purchased a new position in Riskified during the fourth quarter valued at $140,000. Finally, State of Wyoming increased its holdings in Riskified by 86.2% in the 4th quarter. State of Wyoming now owns 46,615 shares of the company’s stock valued at $220,000 after acquiring an additional 21,576 shares during the last quarter. Institutional investors 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.