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

Riskified (NYSE:RSKD - Free Report) had its price target decreased by Piper Sandler from $7.00 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

RSKD has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut their target price on Riskified from $5.50 to $5.25 and set a "market perform" rating on the stock in a research report on Thursday, November 14th. DA Davidson raised Riskified to a "hold" rating in a research note on Thursday, November 14th. The Goldman Sachs Group dropped their target price on Riskified from $4.50 to $4.00 and set a "sell" rating for the company in a research report on Monday, December 2nd. Finally, UBS Group reduced their price target on shares of Riskified from $4.75 to $4.50 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.72.

Riskified Stock Performance

Shares of Riskified stock traded down $0.03 during trading hours on Wednesday, hitting $4.72. The company's stock had a trading volume of 257,860 shares, compared to its average volume of 319,452. 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 twelve month low of $4.14 and a twelve month high of $6.64. The firm has a fifty day moving average of $4.72 and a 200-day moving average of $5.09.

Riskified (NYSE:RSKD - Get Free Report) last posted its earnings results on Wednesday, November 13th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Riskified had a negative net margin of 10.72% and a negative return on equity of 6.00%. The company had revenue of $78.80 million for the quarter, compared to analysts' expectations of $75.01 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. Riskified's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts expect that Riskified will post -0.15 earnings per share for the current fiscal year.

Riskified declared that its Board of Directors has approved a share buyback program on Wednesday, November 13th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Institutional Trading of Riskified

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