Riskified (NYSE:RSKD) Receives “Overweight” Rating from Piper Sandler

Riskified (NYSE:RSKD)‘s stock had its “overweight” rating reaffirmed by analysts at Piper Sandler in a research note issued to investors on Thursday, Benzinga reports. They presently have a $5.00 price objective on the stock. Piper Sandler’s target price points to a potential upside of 27.55% from the company’s current price.

Several other analysts have also recently weighed in on the company. UBS Group initiated coverage on Riskified in a report on Friday, October 20th. They set a “buy” rating and a $5.75 price target on the stock. Truist Financial reissued a “buy” rating and set a $7.50 target price on shares of Riskified in a report on Wednesday, August 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.46.

Riskified Trading Down 6.7 %

NYSE RSKD opened at $3.92 on Thursday. Riskified has a 1 year low of $3.48 and a 1 year high of $6.73. The firm has a market capitalization of $642.74 million, a price-to-earnings ratio of -9.33 and a beta of 1.20. The firm’s 50 day simple moving average is $4.10 and its 200 day simple moving average is $4.55.

Riskified (NYSE:RSKD) last issued its earnings results on Tuesday, August 15th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. The firm had revenue of $72.77 million for the quarter, compared to the consensus estimate of $72.08 million. Riskified had a negative return on equity of 13.48% and a negative net margin of 25.53%. On average, equities research analysts forecast that Riskified will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Riskified in the 1st quarter valued at $25,000. Bank of America Corp DE increased its stake in Riskified by 173.9% in the first quarter. Bank of America Corp DE now owns 5,081 shares of the company’s stock valued at $29,000 after purchasing an additional 3,226 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Riskified during the second quarter valued at about $32,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Riskified by 48.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,173 shares of the company’s stock worth $40,000 after purchasing an additional 2,330 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Riskified in the 2nd quarter valued at about $47,000. Institutional investors own 31.66% of the company’s stock.

About Riskified

Riskified Ltd. develops and offers an e-commerce risk management platform that allows online merchants to create trusted relationships with their consumers in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. It offers Chargeback Guarantee that approves or denies online orders; Policy Protect and Account Secure, which identifies and blocks consumers that may be taking advantage of the merchant's terms and conditions or that may be trying to gain unauthorized access to another consumer's account; and PSD2, an optimize product` that help merchants to avoid bank authorization failures and abandoned shopping carts resulting from the secure customer authentication process.