The Goldman Sachs Group Increases Riskified (NYSE:RSKD) Price Target to $4.50

Riskified (NYSE:RSKD - Get Free Report) had its price objective boosted by stock analysts at The Goldman Sachs Group from $4.00 to $4.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "sell" rating on the stock. The Goldman Sachs Group's target price suggests a potential downside of 2.34% from the stock's current price.

A number of other research firms have also recently weighed in on RSKD. Piper Sandler raised their price objective on Riskified from $6.00 to $7.00 and gave the stock an "overweight" rating in a research report on Thursday. DA Davidson raised Riskified from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $5.00 to $7.00 in a research report on Monday, March 3rd. UBS Group reduced their target price on Riskified from $4.75 to $4.50 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Finally, Keefe, Bruyette & Woods reduced their target price 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Riskified presently has a consensus rating of "Hold" and an average price target of $5.78.

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Riskified Stock Down 0.3 %

Shares of Riskified stock traded down $0.01 during 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 price-to-earnings ratio of -23.04 and a beta of 1.37. Riskified has a 1-year low of $4.14 and a 1-year high of $6.64. The company has a 50-day simple moving average of $5.16 and a two-hundred day simple moving average of $4.86.

Riskified declared that its board has authorized a share buyback plan on Wednesday, November 13th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to buy up to 9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Riskified

Institutional investors have recently modified their holdings of the stock. Harvey Partners LLC raised its stake 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 valued at $15,266,000 after buying an additional 286,500 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Riskified by 1.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 875,723 shares of the company's stock valued at $4,142,000 after buying an additional 15,250 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Riskified by 61.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,143 shares of the company's stock valued at $1,481,000 after buying an additional 119,038 shares during the last quarter. State Street Corp raised its stake in shares of Riskified by 0.9% during the 3rd 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. Finally, Jennison Associates LLC raised its stake in shares of Riskified by 11.2% during the 3rd 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 during the last quarter. 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.