The Goldman Sachs Group Issues Pessimistic Forecast for Riskified (NYSE:RSKD) Stock Price

Riskified (NYSE:RSKD) had its price target lowered by The Goldman Sachs Group from $4.50 to $4.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a sell rating on the stock.

Other equities research analysts have also issued reports about the company. DA Davidson raised Riskified to a “hold” rating in a research report on Thursday, November 14th. Barclays dropped their price target on Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. UBS Group dropped their target price on Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $7.00 target price on shares of Riskified in a research report on Thursday, November 14th. Finally, 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 report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.84.

Riskified Trading Up 2.3 %

Riskified stock opened at $4.99 on Monday. The stock has a market cap of $889.57 million, a P/E ratio of -24.85 and a beta of 1.38. Riskified has a 52 week low of $4.02 and a 52 week high of $6.64. The stock has a 50 day moving average of $4.56 and a 200-day moving average of $5.32.

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

Riskified announced that its board has authorized a share repurchase program on Wednesday, November 13th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Riskified

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC boosted 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 worth $475,000 after acquiring an additional 4,616 shares in the last quarter. Barclays PLC boosted its position in shares of Riskified by 106.6% in the third quarter. Barclays PLC now owns 39,174 shares of the company’s stock worth $186,000 after buying an additional 20,213 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Riskified in the third quarter worth $1,438,000. State Street Corp boosted its position in Riskified by 0.9% during the third quarter. State Street Corp now owns 745,593 shares of the company’s stock valued at $3,527,000 after purchasing an additional 6,927 shares during the last quarter. Finally, Harvey Partners LLC boosted its position in Riskified by 9.7% during the third quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock valued at $15,266,000 after purchasing an additional 286,500 shares during the last quarter. 58.98% of the stock is currently owned by institutional investors and hedge funds.

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.