Riskified (NYSE:RSKD) Stock Gets Downgrade from Zacks Research

Riskified (NYSE:RSKD) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, Zacks reports.

Several other research analysts have also weighed in on RSKD. UBS Group boosted their price objective on shares of Riskified from $5.00 to $6.75 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Riskified in a research note on Friday, August 14th. Keefe, Bruyette & Woods lifted their price target on Riskified from $5.50 to $6.25 and gave the stock a “market perform” rating in a report on Thursday, August 13th. DA Davidson reissued a “buy” rating and set a $7.50 price target on shares of Riskified in a research report on Monday, August 24th. Finally, Truist Financial upped their price objective on Riskified from $7.50 to $9.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Riskified currently has an average rating of “Reduce” and a consensus price target of $7.17.

Riskified Trading Down 0.9%

Shares of RSKD opened at $8.49 on Monday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -77.23 and a beta of 1.25. Riskified has a 1-year low of $3.70 and a 1-year high of $8.78. The company’s fifty day simple moving average is $6.67 and its 200 day simple moving average is $5.44.

Riskified (NYSE:RSKD) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $98.69 million for the quarter, compared to analyst estimates of $89.18 million. Riskified had a negative net margin of 4.23% and a negative return on equity of 3.93%. As a group, research analysts forecast that Riskified will post -0.03 earnings per share for the current year.

Insider Activity at Riskified

In related news, CFO Aglika Dotcheva sold 180,000 shares of Riskified stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $5.95, for a total transaction of $1,071,000.00. Following the completion of the sale, the chief financial officer owned 1,510,874 shares of the company’s stock, valued at approximately $8,989,700.30. The trade was a 10.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Assaf Feldman sold 450,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $6.01, for a total transaction of $2,704,500.00. Following the completion of the transaction, the insider owned 1,417,371 shares in the company, valued at approximately $8,518,399.71. This trade represents a 24.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,945,014 shares of company stock valued at $18,047,438 over the last three months. Company insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Riskified

Several institutional investors and hedge funds have recently made changes to their positions in RSKD. Renaissance Technologies LLC grew its holdings in Riskified by 1.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,358,900 shares of the company’s stock valued at $5,327,000 after buying an additional 22,100 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Riskified during the second quarter worth $1,505,000. Sei Investments Co. boosted its position in shares of Riskified by 87.4% in the first quarter. Sei Investments Co. now owns 356,173 shares of the company’s stock valued at $1,396,000 after acquiring an additional 166,099 shares during the period. Tidal Investments LLC boosted its position in shares of Riskified by 142.3% in the second quarter. Tidal Investments LLC now owns 214,731 shares of the company’s stock valued at $1,082,000 after acquiring an additional 126,121 shares during the period. Finally, State of Wyoming grew its stake in shares of Riskified by 16.4% in the first quarter. State of Wyoming now owns 107,785 shares of the company’s stock valued at $423,000 after acquiring an additional 15,195 shares in the last quarter. Institutional investors and hedge funds own 58.98% of the company’s stock.

Riskified Company Profile

Riskified Ltd. is a technology company that provides fraud and risk-management solutions for e-commerce merchants. Its platform uses data analytics, machine learning and behavioral insights to help online businesses distinguish legitimate customers from fraudulent activity while reducing friction during the purchasing process.

The company’s products are designed to address risks across the digital commerce lifecycle, including payment fraud, chargebacks, account takeover, policy abuse and other forms of customer or transaction abuse.