Riskified (NYSE:RSKD) Given “Overweight” Rating at Piper Sandler

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

RSKD has been the subject of a number of other reports. DA Davidson raised Riskified to a “hold” rating in a report on Wednesday, September 11th. UBS Group dropped their price target on Riskified from $6.00 to $4.75 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Barclays cut their price target on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. The Goldman Sachs Group decreased their price objective on Riskified from $6.00 to $4.50 and set a “sell” rating on the stock in a report on Thursday, August 15th. Finally, Truist Financial reduced their price objective on Riskified from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.03.

Riskified Price Performance

NYSE:RSKD opened at $4.56 on Thursday. Riskified has a 1 year low of $3.75 and a 1 year high of $6.64. The business has a fifty day simple moving average of $4.59 and a two-hundred day simple moving average of $5.40. The company has a market capitalization of $812.91 million, a P/E ratio of -17.54 and a beta of 1.36.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RSKD. nVerses Capital LLC purchased a new stake in shares of Riskified in the second quarter worth about $29,000. Covestor Ltd raised its stake in Riskified by 2,522.7% during the first quarter. Covestor Ltd now owns 7,842 shares of the company’s stock valued at $43,000 after purchasing an additional 7,543 shares in the last quarter. Valmark Advisers Inc. bought a new stake in shares of Riskified in the 2nd quarter worth about $104,000. Quantbot Technologies LP purchased a new stake in shares of Riskified during the 3rd quarter valued at about $120,000. Finally, Olympiad Research LP purchased a new position in Riskified in the third quarter worth about $150,000. 58.98% of the stock is owned by hedge funds and other institutional investors.

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.