Riskified (NYSE:RSKD) Upgraded by DA Davidson to “Buy” Rating

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

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

Riskified Stock Performance

RSKD opened at $5.15 on Monday. The business’s 50-day simple moving average is $5.15 and its 200-day simple moving average is $4.85. The company has a market cap of $918.12 million, a P/E ratio of -25.75 and a beta of 1.38. Riskified has a one year low of $4.14 and a one year high of $6.64.

Riskified announced that its board has approved 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 buy up to 9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSKD. Carolinas Wealth Consulting LLC purchased a new position in Riskified during the fourth quarter worth about $189,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Riskified by 10.3% during the 4th 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 purchasing an additional 20,505 shares during the period. Two Sigma Investments LP raised its holdings in Riskified by 61.5% in the fourth quarter. Two Sigma Investments LP now owns 25,490 shares of the company’s stock valued at $121,000 after buying an additional 9,711 shares during the period. Two Sigma Advisers LP acquired a new position in Riskified during the fourth quarter valued at approximately $140,000. Finally, State of Wyoming grew its stake in Riskified by 86.2% during the fourth quarter. State of Wyoming now owns 46,615 shares of the company’s stock worth $220,000 after buying an additional 21,576 shares during the period. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

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.