Riskified (NYSE:RSKD) Rating Increased to Hold at DA Davidson

DA Davidson upgraded shares of Riskified (NYSE:RSKD) to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports. DA Davidson also issued estimates for Riskified’s Q3 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.16) EPS and FY2025 earnings at ($0.06) EPS.

Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Riskified from $6.00 to $4.50 and set a sell rating for the company in a research report on Thursday, August 15th. Keefe, Bruyette & Woods boosted their price target on Riskified from $5.75 to $6.00 and gave the company a market perform rating in a report on Thursday, May 16th. JPMorgan Chase & Co. raised their price objective on Riskified from $6.00 to $7.00 and gave the stock a neutral rating in a report on Tuesday, August 20th. Truist Financial lowered their target price on Riskified from $8.00 to $7.00 and set a buy rating for the company in a report on Thursday, August 15th. Finally, Piper Sandler dropped their price target on Riskified from $8.00 to $7.00 and set an overweight rating on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $6.03.

Riskified Stock Performance

Shares of RSKD stock opened at $4.70 on Wednesday. The stock has a 50 day moving average price of $5.53 and a 200 day moving average price of $5.56. Riskified has a 52-week low of $3.48 and a 52-week high of $6.64. The firm has a market capitalization of $837.87 million, a P/E ratio of -15.16 and a beta of 1.37.

Riskified (NYSE:RSKD) last released its earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $78.73 million during the quarter, compared to the consensus estimate of $78.33 million. Riskified had a negative return on equity of 8.33% and a negative net margin of 14.57%. As a group, sell-side analysts forecast that Riskified will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rubric Capital Management LP boosted its position in Riskified by 159.2% during the fourth quarter. Rubric Capital Management LP now owns 4,173,636 shares of the company’s stock valued at $19,533,000 after purchasing an additional 2,563,384 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Riskified by 199.4% in the second quarter. Acadian Asset Management LLC now owns 2,632,439 shares of the company’s stock worth $16,803,000 after purchasing an additional 1,753,260 shares in the last quarter. Formation8 GP LLC purchased a new stake in shares of Riskified during the fourth quarter valued at about $7,949,000. Invenomic Capital Management LP bought a new stake in shares of Riskified in the 4th quarter valued at about $2,753,000. Finally, Capital World Investors grew its position in shares of Riskified by 6.3% in the 4th quarter. Capital World Investors now owns 9,774,367 shares of the company’s stock worth $45,744,000 after buying an additional 580,000 shares during the last quarter. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

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.