Riskified (NYSE:RSKD) Downgraded by The Goldman Sachs Group

Riskified (NYSE:RSKD) was downgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued on Wednesday, Marketbeat.com reports. They presently have a $6.00 price objective on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 3.54% from the company’s current price.

RSKD has been the subject of a number of other reports. Truist Financial reissued a “buy” rating and set a $8.00 price target (up from $7.50) on shares of Riskified in a research note on Thursday, May 16th. UBS Group increased their target price on Riskified from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Barclays boosted their price target on shares of Riskified from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, May 20th. DA Davidson increased their price objective on shares of Riskified from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Finally, Keefe, Bruyette & Woods boosted their target price 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Riskified currently has an average rating of “Hold” and an average price target of $6.75.

Riskified Price Performance

Riskified stock opened at $6.22 on Wednesday. Riskified has a 1 year low of $3.48 and a 1 year high of $6.64. The firm’s 50 day moving average price is $6.05 and its 200-day moving average price is $5.27. The stock has a market cap of $1.11 billion, a P/E ratio of -20.06 and a beta of 1.40.

Riskified (NYSE:RSKD) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $76.41 million for the quarter, compared to the consensus estimate of $75.40 million. Riskified had a negative net margin of 17.28% and a negative return on equity of 9.55%. As a group, equities analysts expect that Riskified will post -0.17 EPS for the current year.

Institutional Trading of Riskified

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RSKD. Harbor Capital Advisors Inc. boosted its holdings in Riskified by 181.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 101,895 shares of the company’s stock valued at $651,000 after acquiring an additional 65,653 shares during the period. Tidal Investments LLC purchased a new stake in shares of Riskified during the first quarter valued at $547,000. California State Teachers Retirement System grew its holdings in shares of Riskified by 10.8% in the first quarter. California State Teachers Retirement System now owns 90,693 shares of the company’s stock worth $491,000 after purchasing an additional 8,814 shares during the last quarter. Invenomic Capital Management LP increased its stake in Riskified by 29.7% in the 1st quarter. Invenomic Capital Management LP now owns 763,203 shares of the company’s stock worth $4,129,000 after buying an additional 174,953 shares during the period. Finally, Quadrature Capital Ltd lifted its holdings in Riskified by 16.7% during the 1st quarter. Quadrature Capital Ltd now owns 50,357 shares of the company’s stock valued at $272,000 after buying an additional 7,200 shares in the last quarter. 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.