Truist Financial Cuts Riskified (NYSE:RSKD) Price Target to $7.00

Riskified (NYSE:RSKD) had its price target trimmed by Truist Financial from $8.00 to $7.00 in a research note published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on RSKD. UBS Group boosted their target price on shares of Riskified from $5.00 to $5.50 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Riskified in a research note on Monday, December 29th. Wall Street Zen raised shares of Riskified from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. JPMorgan Chase & Co. upgraded Riskified from an “underweight” rating to a “neutral” rating and set a $6.00 price objective for the company in a research note on Friday, November 14th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $6.00 target price on shares of Riskified in a report on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.96.

Riskified Stock Performance

Shares of NYSE:RSKD opened at $4.48 on Thursday. The stock has a market capitalization of $722.70 million, a price-to-earnings ratio of -26.37 and a beta of 1.33. The stock’s 50-day simple moving average is $4.58 and its two-hundred day simple moving average is $4.69. Riskified has a 52-week low of $3.94 and a 52-week high of $5.68.

Riskified (NYSE:RSKD) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Riskified had a negative net margin of 8.00% and a negative return on equity of 5.63%. The firm had revenue of $99.33 million during the quarter, compared to analyst estimates of $97.21 million. As a group, equities analysts forecast that Riskified will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Riskified

Large investors have recently made changes to their positions in the business. Invesco Ltd. bought a new position in shares of Riskified in the first quarter worth about $51,000. Savant Capital LLC bought a new stake in Riskified during the 2nd quarter valued at approximately $57,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Riskified by 7.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 441,489 shares of the company’s stock valued at $2,203,000 after purchasing an additional 30,919 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Riskified by 129.1% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 191,015 shares of the company’s stock worth $953,000 after purchasing an additional 107,646 shares in the last quarter. Finally, Y.D. More Investments Ltd lifted its holdings in Riskified by 20.4% in the 2nd quarter. Y.D. More Investments Ltd now owns 39,789 shares of the company’s stock worth $198,000 after purchasing an additional 6,743 shares in the last quarter. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

About Riskified

Riskified is a technology company specializing in e-commerce fraud prevention and revenue optimization for online merchants. Its platform combines machine learning, behavioral analytics and proprietary risk models to assess the legitimacy of transactions in real time. By offering a chargeback guarantee, Riskified assumes the financial liability for approved orders that later turn out to be fraudulent, allowing retailers to focus on growth rather than dispute management.

The company’s core product suite addresses various aspects of the online shopping lifecycle, including order approval, account takeover protection and policy compliance.