The Goldman Sachs Group Cuts Riskified (NYSE:RSKD) Price Target to $4.00

Riskified (NYSE:RSKD) had its target price lowered by stock analysts at The Goldman Sachs Group from $4.50 to $4.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 17.18% from the stock’s current price.

A number of other equities analysts also recently issued reports on RSKD. Piper Sandler reissued an “overweight” rating and set a $7.00 target price on shares of Riskified in a research note on Thursday, November 14th. Truist Financial cut their target price on Riskified from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Barclays cut their target price on Riskified from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, DA Davidson raised Riskified to a “hold” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.84.

Riskified Stock Performance

Riskified stock traded down $0.02 during mid-day trading on Monday, reaching $4.83. 344,230 shares of the company were exchanged, compared to its average volume of 665,698. Riskified has a twelve month low of $4.01 and a twelve month high of $6.64. The firm’s 50-day simple moving average is $4.56 and its two-hundred day simple moving average is $5.34. The firm has a market cap of $861.07 million, a PE ratio of -24.15 and a beta of 1.36.

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

Riskified announced that its Board of Directors has approved a share 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 reacquire up to 9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Riskified

A number of large investors have recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd grew its holdings in Riskified by 76.0% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock valued at $31,854,000 after buying an additional 2,907,585 shares during the last quarter. Jennison Associates LLC grew its holdings in Riskified by 11.2% during the 3rd quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock valued at $26,877,000 after buying an additional 573,596 shares during the last quarter. Harvey Partners LLC grew its holdings in Riskified by 9.7% during the 3rd quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock valued at $15,266,000 after buying an additional 286,500 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Riskified by 199.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,632,439 shares of the company’s stock valued at $16,803,000 after buying an additional 1,753,260 shares during the last quarter. Finally, Clearline Capital LP boosted its holdings in shares of Riskified by 10.3% during the third quarter. Clearline Capital LP now owns 1,853,922 shares of the company’s stock worth $8,769,000 after purchasing an additional 173,694 shares during the last quarter. Institutional investors and hedge funds own 58.98% of the company’s stock.

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.