Piper Sandler Issues Positive Forecast for Riskified (NYSE:RSKD) Stock Price

Riskified (NYSE:RSKD) had its price objective lifted by equities researchers at Piper Sandler from $6.00 to $7.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 36.05% from the company’s current price.

Several other equities research analysts have also commented on the company. UBS Group reduced their price objective on Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Keefe, Bruyette & Woods reduced their price target on Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a research report on Thursday, November 14th. The Goldman Sachs Group lowered their price objective on Riskified from $4.50 to $4.00 and set a “sell” rating on the stock in a research report on Monday, December 2nd. Finally, DA Davidson raised shares of Riskified from a “neutral” rating to a “buy” rating and increased their target price for the stock from $5.00 to $7.00 in a report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.84.

Riskified Stock Down 1.2 %

Shares of NYSE RSKD traded down $0.07 during trading on Thursday, reaching $5.15. 267,881 shares of the company traded hands, compared to its average volume of 525,425. The firm has a 50 day simple moving average of $5.16 and a 200-day simple moving average of $4.86. Riskified has a 52-week low of $4.14 and a 52-week high of $6.64. The stock has a market capitalization of $917.22 million, a PE ratio of -25.87 and a beta of 1.38.

Riskified announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 13th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Riskified

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Riskified by 76.0% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock valued at $31,854,000 after purchasing an additional 2,907,585 shares during the period. Monimus Capital Management LP acquired a new position in shares of Riskified in the fourth quarter worth about $3,428,000. Jennison Associates LLC boosted its stake in shares of Riskified by 11.2% during the 3rd quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock worth $26,877,000 after acquiring an additional 573,596 shares in the last quarter. Millennium Management LLC grew its position in shares of Riskified by 171.0% during the 4th quarter. Millennium Management LLC now owns 766,977 shares of the company’s stock valued at $3,628,000 after acquiring an additional 483,975 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Riskified during the 3rd quarter valued at about $1,438,000. Institutional investors and hedge funds 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.