Piper Sandler Increases Riskified (NYSE:RSKD) Price Target to $7.00

Riskified (NYSE:RSKD - Free Report) had its price objective boosted by Piper Sandler from $6.00 to $7.00 in a research note published on Thursday morning, Marketbeat reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on RSKD. The Goldman Sachs Group decreased their target price on Riskified from $4.50 to $4.00 and set a "sell" rating for the company in a research note on Monday, December 2nd. DA Davidson upgraded shares of Riskified from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $5.00 to $7.00 in a research report on Monday, March 3rd. UBS Group dropped their target price 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. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Riskified from $5.50 to $5.25 and set a "market perform" rating for the company in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.78.

Riskified Stock Down 0.3 %

Riskified stock traded down $0.01 during midday trading on Thursday, reaching $4.61. The company's stock had a trading volume of 1,053,665 shares, compared to its average volume of 567,901. The company has a market cap of $821.49 million, a P/E ratio of -23.04 and a beta of 1.37. The business has a 50-day simple moving average of $5.16 and a 200-day simple moving average of $4.86. Riskified has a fifty-two week low of $4.14 and a fifty-two week high of $6.64.

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Riskified announced that its Board of Directors has approved a share repurchase plan on Wednesday, November 13th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On Riskified

Institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new position in shares of Riskified in the 4th quarter valued at approximately $38,000. Group One Trading LLC increased its stake in Riskified by 4,503.5% in the 4th quarter. Group One Trading LLC now owns 8,719 shares of the company's stock valued at $41,000 after buying an additional 8,917 shares during the period. Bayesian Capital Management LP purchased a new position in Riskified during the 4th quarter worth $56,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Riskified in the fourth quarter valued at about $74,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Riskified during the fourth quarter worth about $88,000. 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.