Riskified (NYSE:RSKD) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Riskified (NYSE:RSKD) issued its earnings results on Wednesday. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02, MarketWatch Earnings reports. The firm had revenue of $71.90 million during the quarter, compared to analyst estimates of $71.19 million. Riskified had a negative net margin of 25.53% and a negative return on equity of 13.48%. Riskified’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Riskified updated its FY 2023 guidance to EPS.

Riskified Trading Up 1.5 %

Shares of NYSE RSKD traded up $0.06 during trading hours on Thursday, hitting $3.99. 213,033 shares of the company traded hands, compared to its average volume of 519,805. The stock has a market capitalization of $654.22 million, a price-to-earnings ratio of -9.33 and a beta of 1.20. The company’s 50 day moving average price is $4.10 and its 200 day moving average price is $4.55. Riskified has a 12 month low of $3.48 and a 12 month high of $6.73.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RSKD. UBS Group assumed coverage on Riskified in a research report on Friday, October 20th. They set a “buy” rating and a $5.75 price objective for the company. Truist Financial restated a “buy” rating and set a $7.50 price target on shares of Riskified in a report on Wednesday, August 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $5.00 target price on shares of Riskified in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.46.

Institutional Investors Weigh In On Riskified

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Toronado Partners LLC increased its stake in Riskified by 344.7% in the first quarter. Toronado Partners LLC now owns 3,380,700 shares of the company’s stock worth $20,419,000 after purchasing an additional 2,620,437 shares during the period. Bank of New York Mellon Corp purchased a new position in Riskified in the 1st quarter worth about $9,587,000. Millennium Management LLC increased its stake in Riskified by 131.9% in the 4th quarter. Millennium Management LLC now owns 1,093,844 shares of the company’s stock worth $5,054,000 after buying an additional 622,181 shares during the period. B. Riley Asset Management LLC boosted its position in Riskified by 45.2% in the 4th quarter. B. Riley Asset Management LLC now owns 1,549,937 shares of the company’s stock valued at $7,161,000 after buying an additional 482,540 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Riskified by 73.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,121,929 shares of the company’s stock worth $6,777,000 after acquiring an additional 476,801 shares in the last quarter. Hedge funds and other institutional investors own 31.66% of the company’s stock.

Riskified Company Profile

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.