The Goldman Sachs Group Cuts Riskified (NYSE:RSKD) Price Target to $4.00

Riskified (NYSE:RSKD) had its target price dropped by equities researchers at The Goldman Sachs Group from $4.50 to $4.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential downside of 17.18% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Barclays reduced their target price on Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Piper Sandler restated an “overweight” rating and issued a $7.00 target price on shares of Riskified in a research report on Thursday, November 14th. UBS Group reduced their target price on Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. DA Davidson upgraded Riskified to a “hold” rating in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods cut their price objective on Riskified from $5.50 to $5.25 and set a “market perform” rating on the stock in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.84.

Riskified Trading Down 0.4 %

NYSE RSKD traded down $0.02 on Monday, reaching $4.83. 344,230 shares of the company were exchanged, compared to its average volume of 665,698. The business’s fifty day moving average price is $4.56 and its 200 day moving average price is $5.34. The stock has a market capitalization of $861.07 million, a P/E ratio of -24.15 and a beta of 1.36. Riskified has a fifty-two week low of $4.01 and a fifty-two week high of $6.64.

Riskified (NYSE:RSKD) last released its quarterly earnings data on Wednesday, November 13th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $78.80 million for the quarter, compared to analyst estimates of $75.01 million. Riskified had a negative return on equity of 6.00% and a negative net margin of 10.72%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) earnings per share. Equities research analysts forecast that Riskified will post -0.15 earnings per share for the current year.

Riskified announced that its Board of Directors has authorized a stock buyback program on Wednesday, November 13th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC acquired a new position in shares of Riskified during the 1st quarter worth about $547,000. Allspring Global Investments Holdings LLC boosted its position in shares of Riskified by 37.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,052,944 shares of the company’s stock valued at $4,980,000 after purchasing an additional 286,603 shares during the period. Jennison Associates LLC boosted its position in shares of Riskified by 11.2% in the 3rd quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock valued at $26,877,000 after purchasing an additional 573,596 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Riskified by 61.3% in 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 purchasing an additional 119,038 shares during the period. Finally, Clearline Capital LP boosted its position in shares of Riskified by 19.4% in the 2nd quarter. Clearline Capital LP now owns 1,680,228 shares of the company’s stock valued at $10,737,000 after purchasing an additional 272,760 shares during the period. 58.98% of the stock is 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.