Riskified (NYSE:RSKD) Stock Price Expected to Rise, Piper Sandler Analyst Says

Riskified (NYSE:RSKD) had its price objective increased by stock analysts at Piper Sandler from $6.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 50.70% from the company’s current price.

RSKD has been the subject of several other reports. The Goldman Sachs Group dropped their target price on 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 dropped 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 from a “neutral” rating to a “buy” rating and upped their target price for the company from $5.00 to $7.00 in a research note on Monday, March 3rd. Finally, UBS Group dropped their target price on Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.91.

Riskified Trading Down 5.6 %

Riskified stock opened at $4.65 on Thursday. The firm has a market capitalization of $828.09 million, a P/E ratio of -23.22 and a beta of 1.37. The stock has a fifty day moving average price of $5.16 and a 200 day moving average price of $4.86. Riskified has a 52 week low of $4.14 and a 52 week high of $6.64.

Riskified announced that its Board of Directors has approved a stock buyback program on Wednesday, November 13th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Riskified

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSKD. Clal Insurance Enterprises Holdings Ltd increased its stake in Riskified by 76.0% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock worth $31,854,000 after acquiring an additional 2,907,585 shares during the last quarter. Monimus Capital Management LP acquired a new stake in shares of Riskified in the fourth quarter valued at about $3,428,000. Jennison Associates LLC grew its stake in shares of 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 buying an additional 573,596 shares in the last quarter. Millennium Management LLC grew its stake in shares of Riskified by 171.0% in the fourth quarter. Millennium Management LLC now owns 766,977 shares of the company’s stock valued at $3,628,000 after buying an additional 483,975 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Riskified in the third quarter valued at about $1,438,000. 58.98% of the stock is currently owned by institutional investors and hedge funds.

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.