Riskified Ltd. (NYSE:RSKD) Receives Average Recommendation of “Hold” from Analysts

Riskified Ltd. (NYSE:RSKD) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $5.72.

Several brokerages recently commented on RSKD. Piper Sandler reduced their price objective on shares of Riskified from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group reduced their price objective on shares of Riskified from $4.50 to $4.00 and set a “sell” rating for the company in a research note on Monday, December 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of 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 shares of Riskified to a “hold” rating in a research note on Thursday, November 14th. Finally, UBS Group reduced their price objective on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th.

Hedge Funds Weigh In On Riskified

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Riskified by 37.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,052,944 shares of the company’s stock valued at $4,980,000 after purchasing an additional 286,603 shares in the last quarter. Olympiad Research LP bought a new position in Riskified in the third quarter valued at about $150,000. State of New Jersey Common Pension Fund D boosted its holdings in Riskified by 107.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 67,686 shares of the company’s stock worth $320,000 after buying an additional 35,096 shares during the last quarter. Jennison Associates LLC increased its stake in Riskified by 11.2% in the third quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock valued at $26,877,000 after purchasing an additional 573,596 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Riskified by 61.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,143 shares of the company’s stock worth $1,481,000 after acquiring an additional 119,038 shares in the last quarter. Institutional investors and hedge funds own 58.98% of the company’s stock.

Riskified Stock Performance

RSKD stock opened at $5.88 on Tuesday. Riskified has a one year low of $4.14 and a one year high of $6.64. The stock has a market capitalization of $1.05 billion, a PE ratio of -29.37 and a beta of 1.38. The company has a fifty day moving average of $5.04 and a 200-day moving average of $4.87.

Riskified declared that its Board of Directors has authorized a share repurchase plan on Wednesday, November 13th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.