Riskified (NYSE:RSKD) Trading Down 5.2% - Here's Why

Riskified Ltd. (NYSE:RSKD - Get Free Report) was down 5.2% during mid-day trading on Friday . The stock traded as low as $4.53 and last traded at $4.67. Approximately 659,705 shares were traded during trading, an increase of 20% from the average daily volume of 548,324 shares. The stock had previously closed at $4.92.

Analyst Ratings Changes

Several brokerages have commented on RSKD. Piper Sandler boosted their price objective on shares of Riskified from $6.00 to $7.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Keefe, Bruyette & Woods dropped their price objective on Riskified from $5.50 to $5.25 and set a "market perform" rating for the company in a research report on Thursday, November 14th. DA Davidson raised Riskified from a "neutral" rating to a "buy" rating and raised their price objective for the company from $5.00 to $7.00 in a research note on Monday, March 3rd. The Goldman Sachs Group boosted their target price on Riskified from $4.00 to $4.50 and gave the stock a "sell" rating in a research note on Thursday, March 6th. Finally, UBS Group dropped their price target on Riskified from $4.75 to $4.50 and set a "neutral" rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $5.78.

Riskified Stock Performance

The firm's fifty day simple moving average is $5.16 and its 200-day simple moving average is $4.86. The stock has a market cap of $837.00 million, a P/E ratio of -23.52 and a beta of 1.37.

Remove Ads

Riskified declared that its board has initiated a stock repurchase plan on Wednesday, November 13th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Riskified

A number of institutional investors have recently bought and sold shares of RSKD. Tidal Investments LLC lifted its stake in shares of Riskified by 4.8% in the 3rd quarter. Tidal Investments LLC now owns 100,525 shares of the company's stock valued at $475,000 after purchasing an additional 4,616 shares during the period. Y.D. More Investments Ltd increased its holdings in Riskified by 16.6% in the fourth quarter. Y.D. More Investments Ltd now owns 35,614 shares of the company's stock worth $168,000 after purchasing an additional 5,081 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Riskified by 5.7% in the fourth quarter. New York State Common Retirement Fund now owns 120,740 shares of the company's stock valued at $571,000 after buying an additional 6,487 shares during the period. State Street Corp boosted its holdings in shares of Riskified by 0.9% during the 3rd quarter. State Street Corp now owns 745,593 shares of the company's stock worth $3,527,000 after buying an additional 6,927 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Riskified during the 4th quarter worth approximately $38,000. 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.