Riskified’s (RSKD) “Overweight” Rating Reaffirmed at Piper Sandler

Riskified (NYSE:RSKD)‘s stock had its “overweight” rating restated by analysts at Piper Sandler in a note issued to investors on Thursday,Benzinga reports. They currently have a $7.00 price target on the stock. Piper Sandler’s price objective points to a potential upside of 53.51% from the company’s current price.

RSKD has been the topic of several other research reports. The Goldman Sachs Group reduced their price target on shares of Riskified from $6.00 to $4.50 and set a “sell” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. DA Davidson upgraded Riskified to a “hold” rating in a report on Wednesday, September 11th. Truist Financial cut their price target on Riskified from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Barclays dropped their target price on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.03.

Riskified Trading Up 6.3 %

Shares of NYSE:RSKD opened at $4.56 on Thursday. The company has a market capitalization of $812.91 million, a price-to-earnings ratio of -17.54 and a beta of 1.36. Riskified has a 12 month low of $3.75 and a 12 month high of $6.64. The firm’s 50-day moving average is $4.59 and its 200 day moving average is $5.40.

Riskified (NYSE:RSKD) last released its earnings results on Wednesday, August 14th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Riskified had a negative return on equity of 8.33% and a negative net margin of 14.57%. The firm had revenue of $78.73 million for the quarter, compared to analysts’ expectations of $78.33 million. As a group, equities analysts forecast that Riskified will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Riskified

Hedge funds have recently modified their holdings of the stock. Swiss National Bank grew its holdings in shares of Riskified by 7.1% during the first quarter. Swiss National Bank now owns 183,213 shares of the company’s stock valued at $991,000 after buying an additional 12,200 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Riskified during the first quarter valued at $219,000. Lord Abbett & CO. LLC purchased a new stake in shares of Riskified in the first quarter worth about $204,000. Tocqueville Asset Management L.P. raised its position in Riskified by 19.3% during the first quarter. Tocqueville Asset Management L.P. now owns 526,000 shares of the company’s stock valued at $2,846,000 after acquiring an additional 85,000 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Riskified by 0.9% in the first quarter. Acadian Asset Management LLC now owns 879,179 shares of the company’s stock valued at $4,743,000 after acquiring an additional 7,644 shares during the period. Institutional investors and hedge funds 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.