Piper Sandler Lowers Riskified (NYSE:RSKD) Price Target to $6.00

Riskified (NYSE:RSKD) had its target price reduced by Piper Sandler from $7.00 to $6.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 27.12% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods reduced their price objective on Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a research note on Thursday, November 14th. UBS Group decreased their price target on Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. DA Davidson raised shares of Riskified to a “hold” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group decreased their target price on shares of Riskified from $4.50 to $4.00 and set a “sell” rating for the company in a research note on Monday, December 2nd. One research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.72.

Riskified Stock Down 0.6 %

Shares of NYSE:RSKD opened at $4.72 on Wednesday. The business has a 50-day moving average price of $4.72 and a 200-day moving average price of $5.09. The stock has a market cap of $841.46 million, a price-to-earnings ratio of -23.60 and a beta of 1.37. Riskified has a 52-week low of $4.14 and a 52-week high of $6.64.

Riskified (NYSE:RSKD) last announced its quarterly earnings data on Wednesday, November 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $78.80 million during the quarter, compared to analysts’ expectations of $75.01 million. Riskified had a negative net margin of 10.72% and a negative return on equity of 6.00%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) EPS. As a group, equities analysts anticipate that Riskified will post -0.15 EPS for the current fiscal year.

Riskified announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 13th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to buy up to 9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Riskified

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harvey Partners LLC raised its position in shares of Riskified by 9.7% during the 3rd quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock worth $15,266,000 after purchasing an additional 286,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Riskified by 61.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,143 shares of the company’s stock worth $1,481,000 after buying an additional 119,038 shares in the last quarter. State Street Corp lifted its position in shares of Riskified by 0.9% in the third quarter. State Street Corp now owns 745,593 shares of the company’s stock valued at $3,527,000 after acquiring an additional 6,927 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Riskified by 11.2% in the third quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock worth $26,877,000 after acquiring an additional 573,596 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Riskified by 37.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,052,944 shares of the company’s stock worth $4,980,000 after purchasing an additional 286,603 shares in the last quarter. 58.98% of the stock is owned by hedge funds and other institutional investors.

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.