Riskified (NYSE:RSKD) Shares Gap Down - Should You Sell?

Riskified Ltd. (NYSE:RSKD - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $5.06, but opened at $4.65. Riskified shares last traded at $5.04, with a volume of 317,801 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group dropped their price objective on Riskified from $4.75 to $4.50 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Piper Sandler increased their price objective on Riskified from $6.00 to $7.00 and gave the company an "overweight" rating in a research report on Thursday. Keefe, Bruyette & Woods dropped their price objective 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 from a "neutral" rating to a "buy" rating and increased their price objective for the company from $5.00 to $7.00 in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group increased their target price on Riskified from $4.00 to $4.50 and gave the company a "sell" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.91.

Riskified Stock Down 5.6 %

The business has a fifty day simple moving average of $5.16 and a two-hundred day simple moving average of $4.86. The company has a market cap of $828.09 million, a P/E ratio of -23.22 and a beta of 1.37.

Remove Ads

Riskified declared that its board has approved a stock repurchase program on Wednesday, November 13th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Riskified by 76.0% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company's stock worth $31,854,000 after buying an additional 2,907,585 shares during the period. Jennison Associates LLC raised its stake in shares of Riskified by 0.3% in the fourth quarter. Jennison Associates LLC now owns 5,701,408 shares of the company's stock worth $26,968,000 after buying an additional 19,264 shares during the period. Harvey Partners LLC raised its stake in shares of Riskified by 9.7% in the third quarter. Harvey Partners LLC now owns 3,227,500 shares of the company's stock worth $15,266,000 after buying an additional 286,500 shares during the period. Clearline Capital LP raised its stake in shares of Riskified by 10.3% in the third quarter. Clearline Capital LP now owns 1,853,922 shares of the company's stock worth $8,769,000 after buying an additional 173,694 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Riskified by 2.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,181,400 shares of the company's stock worth $5,588,000 after buying an additional 26,200 shares during the period. 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.