Riskified (NYSE:RSKD) Shares Gap Down Following Analyst Downgrade

Riskified Ltd. (NYSE:RSKD) shares gapped down prior to trading on Friday after UBS Group lowered their price target on the stock from $4.75 to $4.50. The stock had previously closed at $4.63, but opened at $4.46. UBS Group currently has a neutral rating on the stock. Riskified shares last traded at $4.48, with a volume of 163,453 shares changing hands.

Several other research firms also recently weighed in on RSKD. Barclays decreased 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. Keefe, Bruyette & Woods lowered their target price on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating on the stock in a research note on Thursday. The Goldman Sachs Group reduced their target price on shares of Riskified from $6.00 to $4.50 and set a “sell” rating for the company in a research report on Thursday, August 15th. DA Davidson upgraded shares of Riskified to a “hold” rating in a research report on Wednesday, September 11th. Finally, Truist Financial dropped their price objective on shares of Riskified from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Riskified currently has an average rating of “Hold” and an average price target of $5.91.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Barclays PLC grew its position in shares of Riskified by 106.6% in the third quarter. Barclays PLC now owns 39,174 shares of the company’s stock valued at $186,000 after purchasing an additional 20,213 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Riskified in the 3rd quarter valued at about $1,438,000. State Street Corp increased its stake in shares of Riskified by 0.9% during the 3rd quarter. State Street Corp now owns 745,593 shares of the company’s stock valued at $3,527,000 after acquiring an additional 6,927 shares during the last quarter. Harvey Partners LLC lifted its holdings in shares of Riskified by 9.7% during the 3rd quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock worth $15,266,000 after acquiring an additional 286,500 shares during the period. Finally, Clearline Capital LP lifted its holdings in shares of Riskified by 10.3% during the 3rd quarter. Clearline Capital LP now owns 1,853,922 shares of the company’s stock worth $8,769,000 after acquiring an additional 173,694 shares during the period. Hedge funds and other institutional investors own 58.98% of the company’s stock.

Riskified Price Performance

The company’s 50-day moving average is $4.58 and its 200-day moving average is $5.38. The firm has a market capitalization of $773.71 million, a price-to-earnings ratio of -21.70 and a beta of 1.36.

Riskified (NYSE:RSKD) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Riskified had a negative return on equity of 5.77% and a negative net margin of 10.72%. The firm had revenue of $78.73 million during the quarter, compared to the consensus estimate of $78.33 million. Sell-side analysts anticipate that Riskified Ltd. will post -0.17 earnings per share for the current year.

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.