Riskified (NYSE:RSKD) Sets New 52-Week High at $6.58

Riskified Ltd. (NYSE:RSKD) hit a new 52-week high during trading on Wednesday . The stock traded as high as $6.58 and last traded at $6.55, with a volume of 35138 shares trading hands. The stock had previously closed at $6.53.

Wall Street Analysts Forecast Growth

RSKD has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Riskified from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Piper Sandler lifted their target price on shares of Riskified from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. DA Davidson lifted their target price on shares of Riskified from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Truist Financial reaffirmed a “buy” rating and set a $8.00 target price (up from $7.50) on shares of Riskified in a report on Thursday, May 16th. Finally, 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. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.63.

Riskified Stock Up 0.3 %

The firm’s fifty day moving average is $5.94 and its 200 day moving average is $5.20.

Riskified (NYSE:RSKD) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $76.41 million during 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%. As a group, analysts expect that Riskified Ltd. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Riskified

A number of large investors have recently modified their holdings of RSKD. Covestor Ltd grew its holdings in shares of 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 buying an additional 7,543 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Riskified during the fourth quarter worth $84,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 buying an additional 7,609 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Riskified by 29.1% during the fourth quarter. Y.D. More Investments Ltd now owns 35,248 shares of the company’s stock worth $152,000 after buying an additional 7,938 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Riskified during the fourth quarter worth $182,000. Hedge funds and other institutional investors own 58.98% of the company’s stock.

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.