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

Riskified Ltd. (NYSE:RSKD) gapped down before the market opened 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.

RSKD has been the topic of a number of other research reports. The Goldman Sachs Group decreased their price target on shares of Riskified from $6.00 to $4.50 and set a “sell” rating on the stock in a research note on Thursday, August 15th. Barclays cut their price target on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on shares of Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Truist Financial decreased their price target on shares of Riskified from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Riskified in a research report on Thursday. One research 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.91.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Invenomic Capital Management LP lifted its position in Riskified by 29.7% in the first quarter. Invenomic Capital Management LP now owns 763,203 shares of the company’s stock valued at $4,129,000 after buying an additional 174,953 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Riskified during the first quarter worth approximately $547,000. Allspring Global Investments Holdings LLC increased its stake in shares of Riskified by 37.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,052,944 shares of the company’s stock worth $4,980,000 after buying an additional 286,603 shares during the period. Clearline Capital LP increased its stake in Riskified by 19.4% in the second 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 last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Riskified in the first quarter valued at approximately $219,000. Institutional investors and hedge funds own 58.98% of the company’s stock.

Riskified Stock Down 6.3 %

The firm has a market capitalization of $773.71 million, a price-to-earnings ratio of -21.70 and a beta of 1.36. The company has a fifty day moving average price of $4.58 and a two-hundred day moving average price of $5.39.

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