Riskified (NYSE:RSKD) Upgraded at DA Davidson

DA Davidson upgraded shares of Riskified (NYSE:RSKD) from a neutral rating to a buy rating in a research note released on Monday, Marketbeat reports. The brokerage currently has $7.00 target price on the stock, up from their prior target price of $5.00.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods decreased their price objective on Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a report on Thursday, November 14th. Piper Sandler decreased their price objective on Riskified from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group decreased their price objective on Riskified from $4.50 to $4.00 and set a “sell” rating for the company in a report on Monday, December 2nd. Finally, UBS Group decreased their price objective on Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.72.

Riskified Stock Up 2.7 %

Shares of RSKD opened at $5.20 on Monday. The stock has a 50 day moving average price of $5.16 and a 200 day moving average price of $4.86. The company has a market capitalization of $926.14 million, a price-to-earnings ratio of -25.97 and a beta of 1.38. Riskified has a 52-week low of $4.14 and a 52-week high of $6.64.

Riskified announced that its board has approved a stock buyback program on Wednesday, November 13th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Riskified

Several large investors have recently modified their holdings of the stock. Carolinas Wealth Consulting LLC purchased a new stake in shares of Riskified during the fourth quarter worth approximately $189,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Riskified by 10.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,262 shares of the company’s stock worth $1,037,000 after acquiring an additional 20,505 shares in the last quarter. Two Sigma Investments LP raised its position in Riskified by 61.5% in the fourth quarter. Two Sigma Investments LP now owns 25,490 shares of the company’s stock worth $121,000 after acquiring an additional 9,711 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Riskified in the fourth quarter worth $140,000. Finally, State of Wyoming raised its position in Riskified by 86.2% in the fourth quarter. State of Wyoming now owns 46,615 shares of the company’s stock worth $220,000 after acquiring an additional 21,576 shares in the last quarter. Hedge funds and other institutional investors own 58.98% of the company’s stock.

Riskified Company Profile

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.