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

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

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler lifted their price objective on shares of Riskified from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. UBS Group reduced their price target on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. 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 report on Thursday, November 14th. The Goldman Sachs Group raised their price objective on Riskified from $4.00 to $4.50 and gave the company a “sell” rating in a research report on Thursday, March 6th. Finally, DA Davidson upgraded Riskified from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.00 to $7.00 in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.78.

Riskified Trading Up 1.2 %

Shares of RSKD opened at $4.72 on Monday. The business’s 50 day moving average is $5.15 and its 200 day moving average is $4.85. Riskified has a 12-month low of $4.14 and a 12-month high of $6.64. The company has a market capitalization of $840.57 million, a PE ratio of -23.57 and a beta of 1.37.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State of New Jersey Common Pension Fund D lifted its stake in shares of Riskified by 107.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 67,686 shares of the company’s stock valued at $320,000 after purchasing an additional 35,096 shares during the last quarter. Jennison Associates LLC raised its holdings in Riskified by 11.2% during the 3rd 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 during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Riskified by 61.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,143 shares of the company’s stock valued at $1,481,000 after buying an additional 119,038 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in Riskified by 76.0% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock worth $31,854,000 after buying an additional 2,907,585 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Riskified during the third quarter worth $120,000. Institutional investors own 58.98% of the company’s stock.

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.