Riskified (NYSE:RSKD) Price Target Raised to $7.00

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

Other research analysts have also issued research reports about the company. DA Davidson upgraded Riskified from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $5.00 to $7.00 in a report on Monday. UBS Group reduced their target price on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. The Goldman Sachs Group cut their price target on shares of Riskified from $4.50 to $4.00 and set a “sell” rating for the company in a report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.84.

Riskified Price Performance

NYSE RSKD traded down $0.07 during mid-day trading on Thursday, hitting $5.15. The stock had a trading volume of 267,881 shares, compared to its average volume of 525,425. The firm’s 50 day moving average is $5.16 and its 200 day moving average is $4.86. The stock has a market capitalization of $917.22 million, a price-to-earnings ratio of -25.87 and a beta of 1.38. Riskified has a twelve month low of $4.14 and a twelve month high of $6.64.

Riskified declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 13th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Riskified

Several hedge funds and other institutional investors have recently bought and sold shares of RSKD. Harvey Partners LLC grew its stake in Riskified by 9.7% in the 3rd quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock valued at $15,266,000 after acquiring an additional 286,500 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Riskified by 1.8% in the third quarter. JPMorgan Chase & Co. now owns 875,723 shares of the company’s stock valued at $4,142,000 after purchasing an additional 15,250 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Riskified by 61.3% in the third 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 last quarter. 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 worth $3,527,000 after purchasing an additional 6,927 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Riskified by 11.2% during the third quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock worth $26,877,000 after buying an additional 573,596 shares in the last quarter. 58.98% of the stock is owned by institutional investors and hedge funds.

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.