Riskified (NYSE:RSKD) Price Target Lowered to $6.00 at JPMorgan Chase & Co.

Riskified (NYSE:RSKD) had its target price decreased by JPMorgan Chase & Co. from $7.00 to $6.00 in a report published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other brokerages have also recently commented on RSKD. The Goldman Sachs Group increased their price target on shares of Riskified from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Thursday, March 6th. UBS Group cut their price target on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. DA Davidson upgraded Riskified from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $5.00 to $7.00 in a research report on Monday, March 3rd. Keefe, Bruyette & Woods dropped 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. Finally, Piper Sandler boosted their price objective on Riskified from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.78.

Riskified Price Performance

RSKD stock opened at $4.61 on Monday. The company has a 50 day moving average price of $5.16 and a 200 day moving average price of $4.86. The stock has a market capitalization of $821.49 million, a PE ratio of -23.04 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.

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

Hedge Funds Weigh In On Riskified

A number of large investors have recently made changes to their positions in RSKD. Tidal Investments LLC increased its holdings in Riskified by 4.8% in the third quarter. Tidal Investments LLC now owns 100,525 shares of the company’s stock valued at $475,000 after buying an additional 4,616 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of Riskified by 16.6% in the fourth quarter. Y.D. More Investments Ltd now owns 35,614 shares of the company’s stock worth $168,000 after acquiring an additional 5,081 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Riskified by 5.7% in the 4th quarter. New York State Common Retirement Fund now owns 120,740 shares of the company’s stock valued at $571,000 after purchasing an additional 6,487 shares in the last quarter. State Street Corp increased its position in shares of Riskified by 0.9% during the third quarter. State Street Corp now owns 745,593 shares of the company’s stock worth $3,527,000 after purchasing an additional 6,927 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Riskified during the 4th quarter worth $38,000. 58.98% of the stock is owned by institutional investors and hedge funds.

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.