Piper Sandler Cuts Riskified (NYSE:RSKD) Price Target to $6.00

Riskified (NYSE:RSKD) had its target price cut by Piper Sandler from $7.00 to $6.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

RSKD has been the subject of a number of other research reports. UBS Group decreased their target price on Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Keefe, Bruyette & Woods cut their target price on Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a research note on Thursday, November 14th. DA Davidson upgraded Riskified to a “hold” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group dropped their price objective on Riskified from $4.50 to $4.00 and set a “sell” rating for the company in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.72.

Riskified Price Performance

Shares of RSKD opened at $4.70 on Wednesday. The company has a market capitalization of $837.89 million, a price-to-earnings ratio of -23.50 and a beta of 1.37. Riskified has a fifty-two week low of $4.14 and a fifty-two week high of $6.64. The business’s 50-day moving average is $4.73 and its 200-day moving average is $5.08.

Riskified (NYSE:RSKD) last announced its quarterly earnings results on Wednesday, November 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $78.80 million during the quarter, compared to analysts’ expectations of $75.01 million. Riskified had a negative return on equity of 6.00% and a negative net margin of 10.72%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) EPS. Equities research analysts expect that Riskified will post -0.15 earnings per share for the current fiscal year.

Riskified announced that its Board of Directors has authorized a stock repurchase program on Wednesday, November 13th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Riskified

Several institutional investors and hedge funds have recently made changes to their positions in RSKD. Quantbot Technologies LP acquired a new stake in Riskified during the third quarter worth approximately $120,000. Olympiad Research LP acquired a new stake in Riskified in the third quarter valued at approximately $150,000. Squarepoint Ops LLC bought a new position in shares of Riskified in the second quarter valued at approximately $163,000. Barclays PLC lifted its holdings in shares of Riskified by 106.6% in the third quarter. Barclays PLC now owns 39,174 shares of the company’s stock valued at $186,000 after purchasing an additional 20,213 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in Riskified during the second quarter worth $208,000. 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.