Riskified (NYSE:RSKD) Trading Down 5.2% – What’s Next?

Riskified Ltd. (NYSE:RSKD) dropped 5.2% during mid-day trading on Friday . The company traded as low as $4.53 and last traded at $4.67. Approximately 659,705 shares changed hands during mid-day trading, an increase of 20% from the average daily volume of 548,324 shares. The stock had previously closed at $4.92.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RSKD shares. DA Davidson raised Riskified from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.00 to $7.00 in a research report on Monday. Piper Sandler boosted their price objective on Riskified from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group decreased their target price on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Keefe, Bruyette & Woods cut their price target on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating on the stock in a report on Thursday, November 14th. Finally, The Goldman Sachs Group upped their price target on shares of Riskified from $4.00 to $4.50 and gave the company a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Riskified has a consensus rating of “Hold” and a consensus target price of $5.91.

Riskified Price Performance

The firm has a market capitalization of $829.87 million, a price-to-earnings ratio of -23.37 and a beta of 1.37. The firm’s fifty day moving average is $5.16 and its 200 day moving average is $4.86.

Riskified declared that its board has approved a stock 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 purchase up to 9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings 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 during the last quarter. Y.D. More Investments Ltd raised its position in Riskified by 16.6% during the fourth quarter. Y.D. More Investments Ltd now owns 35,614 shares of the company’s stock valued at $168,000 after acquiring an additional 5,081 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Riskified by 5.7% in the fourth quarter. New York State Common Retirement Fund now owns 120,740 shares of the company’s stock valued at $571,000 after acquiring an additional 6,487 shares during the last quarter. State Street Corp lifted its stake in Riskified by 0.9% in the third quarter. State Street Corp now owns 745,593 shares of the company’s stock valued at $3,527,000 after acquiring an additional 6,927 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Riskified in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 58.98% of the company’s stock.

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.