Piper Sandler Reaffirms "Overweight" Rating for Riskified (NYSE:RSKD)

Riskified (NYSE:RSKD - Get Free Report)'s stock had its "overweight" rating reiterated by Piper Sandler in a report released on Thursday,Benzinga reports. They currently have a $7.00 price objective on the stock. Piper Sandler's price target would indicate a potential upside of 48.94% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Barclays lowered their target price on shares of Riskified from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Friday, August 16th. Truist Financial lowered their target price on shares of Riskified from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. DA Davidson raised shares of Riskified to a "hold" rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. raised their target price on shares of Riskified from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Finally, UBS Group reduced their price objective on shares of Riskified from $6.00 to $4.75 and set a "neutral" rating for the company in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.91.

Riskified Price Performance

Shares of RSKD stock traded up $0.14 during trading hours on Thursday, reaching $4.70. The stock had a trading volume of 699,399 shares, compared to its average volume of 664,183. Riskified has a twelve month low of $3.75 and a twelve month high of $6.64. The firm has a 50-day simple moving average of $4.59 and a 200-day simple moving average of $5.40. The firm has a market capitalization of $837.87 million, a PE ratio of -17.69 and a beta of 1.36.

Riskified (NYSE:RSKD - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. Riskified had a negative net margin of 14.57% and a negative return on equity of 8.33%. The business had revenue of $78.73 million for the quarter, compared to analysts' expectations of $78.33 million. On average, equities analysts anticipate that Riskified will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RSKD. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Riskified by 76.0% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company's stock worth $31,854,000 after purchasing an additional 2,907,585 shares during the period. Acadian Asset Management LLC raised its position in Riskified by 199.4% during the second quarter. Acadian Asset Management LLC now owns 2,632,439 shares of the company's stock valued at $16,803,000 after acquiring an additional 1,753,260 shares in the last quarter. Jennison Associates LLC raised its position in Riskified by 11.2% during the third quarter. Jennison Associates LLC now owns 5,682,144 shares of the company's stock valued at $26,877,000 after acquiring an additional 573,596 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Riskified by 37.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,052,944 shares of the company's stock valued at $4,980,000 after acquiring an additional 286,603 shares in the last quarter. Finally, Clearline Capital LP raised its position in Riskified by 19.4% during the second quarter. Clearline Capital LP now owns 1,680,228 shares of the company's stock valued at $10,737,000 after acquiring an additional 272,760 shares in the last quarter. 58.98% of the stock is currently owned by institutional investors and hedge funds.

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.