Riskified (NYSE:RSKD) Sees Unusually-High Trading Volume - Still a Buy?

Riskified Ltd. (NYSE:RSKD - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 179,707 shares traded hands during mid-day trading, a decline of 41% from the previous session's volume of 305,455 shares.The stock last traded at $4.96 and had previously closed at $4.82.

Analyst Ratings Changes

RSKD has been the topic of a number of analyst reports. DA Davidson raised Riskified to a "hold" rating in a research note on Thursday, November 14th. The Goldman Sachs Group decreased their price target on Riskified from $4.50 to $4.00 and set a "sell" rating on the stock in a research note on Monday, December 2nd. Piper Sandler decreased their price target on Riskified from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. UBS Group decreased their price target on Riskified from $4.75 to $4.50 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. Finally, Keefe, Bruyette & Woods decreased their price target on Riskified from $5.50 to $5.25 and set a "market perform" rating on the stock in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Riskified has a consensus rating of "Hold" and a consensus price target of $5.72.

Riskified Stock Performance

The stock has a market capitalization of $898.51 million, a P/E ratio of -25.20 and a beta of 1.37. The stock has a 50-day moving average price of $4.74 and a two-hundred day moving average price of $5.04.

Riskified (NYSE:RSKD - Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Riskified had a negative return on equity of 6.00% and a negative net margin of 10.72%. The company had revenue of $78.80 million for the quarter, compared to analyst estimates of $75.01 million. During the same period in the previous year, the company posted ($0.12) earnings per share. The firm's revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Riskified Ltd. will post -0.15 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On Riskified

Hedge funds have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D purchased a new position in Riskified during the second quarter valued at $208,000. Renaissance Technologies LLC increased its holdings in shares of Riskified by 17.2% during the second quarter. Renaissance Technologies LLC now owns 1,118,900 shares of the company's stock valued at $7,150,000 after acquiring an additional 164,600 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Riskified during the second quarter valued at $528,000. Sei Investments Co. increased its holdings in shares of Riskified by 110.8% during the second quarter. Sei Investments Co. now owns 34,991 shares of the company's stock valued at $224,000 after acquiring an additional 18,392 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Riskified during the second quarter valued at $163,000. 58.98% of the stock is currently owned by 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.