Riskified Ltd. (NYSE:RSKD) Short Interest Down 17.1% in November

Riskified Ltd. (NYSE:RSKD) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,020,000 shares, a drop of 17.1% from the October 31st total of 1,230,000 shares. Based on an average daily trading volume, of 579,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.1% of the company’s shares are short sold.

Riskified Stock Up 1.0 %

Shares of Riskified stock opened at $4.85 on Monday. The company has a market cap of $864.63 million, a PE ratio of -24.25 and a beta of 1.36. The business has a 50 day moving average price of $4.56 and a 200-day moving average price of $5.35. Riskified has a 52 week low of $3.98 and a 52 week high of $6.64.

Riskified (NYSE:RSKD) last posted its earnings results on Wednesday, November 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $78.80 million during the quarter, compared to analyst estimates of $75.01 million. Riskified had a negative net margin of 10.72% and a negative return on equity of 6.00%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) EPS. As a group, research analysts anticipate that Riskified will post -0.15 EPS for the current year.

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

Institutional Investors Weigh In On Riskified

Several large investors have recently made changes to their positions in the business. Tidal Investments LLC lifted its stake in shares of Riskified by 4.8% during the 3rd quarter. Tidal Investments LLC now owns 100,525 shares of the company’s stock valued at $475,000 after buying an additional 4,616 shares in the last quarter. Barclays PLC raised its stake in shares of Riskified by 106.6% during the 3rd quarter. Barclays PLC now owns 39,174 shares of the company’s stock valued at $186,000 after purchasing an additional 20,213 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Riskified during the 3rd quarter worth about $1,438,000. State Street Corp boosted its stake in Riskified by 0.9% in 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 during the period. Finally, Harvey Partners LLC boosted 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 worth $15,266,000 after purchasing an additional 286,500 shares during the period. 58.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on RSKD. JPMorgan Chase & Co. lifted their price target on shares of Riskified from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Truist Financial decreased their target price on Riskified from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Piper Sandler reaffirmed an “overweight” rating and set a $7.00 price target on shares of Riskified in a research note on Thursday, November 14th. Keefe, Bruyette & Woods reduced their price objective on Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a research note on Thursday, November 14th. Finally, DA Davidson upgraded Riskified to a “hold” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Riskified has a consensus rating of “Hold” and an average target price of $5.91.

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.