Riskified (NYSE:RSKD) Shares Up 4.7% - Time to Buy?

Riskified Ltd. (NYSE:RSKD - Get Free Report)'s stock price rose 4.7% on Tuesday . The stock traded as high as $5.93 and last traded at $5.89. Approximately 469,824 shares were traded during trading, an increase of 1% from the average daily volume of 465,680 shares. The stock had previously closed at $5.62.

Wall Street Analysts Forecast Growth

RSKD has been the topic of several research reports. Piper Sandler cut 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 cut 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. Keefe, Bruyette & Woods cut 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. The Goldman Sachs Group cut 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. Finally, DA Davidson upgraded Riskified to a "hold" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $5.72.

Riskified Stock Down 0.4 %

The firm has a 50 day simple moving average of $5.03 and a 200-day simple moving average of $4.88. The company has a market cap of $1.05 billion, a PE ratio of -29.37 and a beta of 1.38.

Riskified (NYSE:RSKD - Get Free Report) last posted its earnings results on Wednesday, November 13th. The company reported $0.03 earnings per share (EPS) 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 quarter in the previous year, the firm earned ($0.12) earnings per share. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities analysts anticipate that Riskified Ltd. will post -0.15 EPS for the current year.

Riskified announced that its Board of Directors has authorized a share buyback program on Wednesday, November 13th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Riskified

A number of large investors have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd grew its stake 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 acquiring an additional 2,907,585 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Riskified by 0.3% during the fourth quarter. Jennison Associates LLC now owns 5,701,408 shares of the company's stock worth $26,968,000 after acquiring an additional 19,264 shares during the last quarter. Harvey Partners LLC grew its stake in shares of Riskified by 9.7% during the third quarter. Harvey Partners LLC now owns 3,227,500 shares of the company's stock worth $15,266,000 after acquiring an additional 286,500 shares during the last quarter. Clearline Capital LP grew its stake in shares of Riskified by 10.3% during the third quarter. Clearline Capital LP now owns 1,853,922 shares of the company's stock worth $8,769,000 after acquiring an additional 173,694 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Riskified by 2.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,181,400 shares of the company's stock worth $5,588,000 after acquiring an additional 26,200 shares during the last quarter. Hedge funds and other institutional investors own 58.98% of the company's stock.

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.