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

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

A number of other equities research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Riskified from $5.75 to $6.00 and gave the stock a market perform rating in a report on Thursday, May 16th. Piper Sandler lowered their target price on shares of Riskified from $8.00 to $7.00 and set an overweight rating on the stock in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Riskified from $6.00 to $7.00 and gave the company a neutral rating in a research note on Thursday, May 16th. The Goldman Sachs Group lowered their target price on shares of Riskified from $6.00 to $4.50 and set a sell rating on the stock in a research note on Thursday. Finally, Barclays raised their target price on shares of Riskified from $5.00 to $6.00 and gave the company an equal weight rating in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Riskified currently has an average rating of Hold and a consensus target price of $6.03.

Riskified Trading Up 0.2 %

Shares of Riskified stock opened at $4.66 on Thursday. Riskified has a 12-month low of $3.48 and a 12-month high of $6.64. The company has a market cap of $830.76 million, a price-to-earnings ratio of -15.03 and a beta of 1.40. The company’s 50-day moving average price is $6.11 and its 200-day moving average price is $5.54.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Capital World Investors raised its stake in shares of Riskified by 6.3% during the fourth quarter. Capital World Investors now owns 9,774,367 shares of the company’s stock worth $45,744,000 after acquiring an additional 580,000 shares in the last quarter. Rubric Capital Management LP raised its stake in shares of Riskified by 159.2% during the fourth quarter. Rubric Capital Management LP now owns 4,173,636 shares of the company’s stock worth $19,533,000 after acquiring an additional 2,563,384 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Riskified by 199.4% during the second quarter. Acadian Asset Management LLC now owns 2,632,439 shares of the company’s stock worth $16,803,000 after acquiring an additional 1,753,260 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Riskified by 2.1% during the first quarter. Jennison Associates LLC now owns 1,710,472 shares of the company’s stock worth $9,254,000 after acquiring an additional 35,699 shares in the last quarter. Finally, Formation8 GP LLC bought a new position in shares of Riskified in the fourth quarter worth approximately $7,949,000. 58.98% of the stock is 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.