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Riskified (NYSE:RSKD) Trading Down 3.5% After Analyst Downgrade

Defense World ·  09/28 13:23

Riskified Ltd. (NYSE:RSKD – Get Rating) was down 3.5% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $7.00 to $6.00. Barclays currently has an overweight rating on the stock. Riskified traded as low as $3.87 and last traded at $3.87. Approximately 450 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 188,555 shares. The stock had previously closed at $4.01.

RSKD has been the topic of a number of other reports. Piper Sandler raised their price target on Riskified from $5.00 to $6.00 and gave the company a "neutral" rating in a research note on Thursday, August 11th. The Goldman Sachs Group raised their price target on Riskified from $4.50 to $5.00 and gave the company a "sell" rating in a research note on Thursday, August 11th. KeyCorp cut their price target on Riskified from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Thursday, July 7th. Finally, Credit Suisse Group cut their price target on Riskified from $8.50 to $8.00 and set an "outperform" rating on the stock in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.50.

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Hedge Funds Weigh In On Riskified

Several hedge funds have recently made changes to their positions in RSKD. Renaissance Technologies LLC purchased a new position in shares of Riskified during the fourth quarter worth about $3,101,000. ETF Managers Group LLC purchased a new position in shares of Riskified during the fourth quarter worth about $331,000. Alliancebernstein L.P. grew its holdings in shares of Riskified by 4.4% during the fourth quarter. Alliancebernstein L.P. now owns 2,314,296 shares of the company's stock worth $18,190,000 after buying an additional 97,698 shares during the last quarter. Clearline Capital LP purchased a new position in shares of Riskified during the fourth quarter worth about $2,832,000. Finally, Cinctive Capital Management LP grew its holdings in shares of Riskified by 5.9% during the fourth quarter. Cinctive Capital Management LP now owns 85,330 shares of the company's stock worth $671,000 after buying an additional 4,753 shares during the last quarter. Hedge funds and other institutional investors own 26.10% of the company's stock.

Riskified Stock Down 3.2 %

The stock has a fifty day moving average of $4.85 and a 200-day moving average of $5.09. The stock has a market cap of $611.59 million, a PE ratio of -2.94 and a beta of 0.25.

Riskified (NYSE:RSKD – Get Rating) last released its quarterly earnings results on Wednesday, August 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.04. Riskified had a negative return on equity of 20.85% and a negative net margin of 73.07%. The firm had revenue of $59.90 million for the quarter, compared to analyst estimates of $57.59 million. During the same quarter last year, the company posted ($1.41) earnings per share. The business's revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that Riskified Ltd. will post -0.8 earnings per share for the current fiscal year.

Riskified Company Profile

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Riskified Ltd. operates an e-commerce risk management platform that allows online merchants to create trusted relationships with their consumers in the United States, Europe, the Middle East, Africa, and internationally. It offers Chargeback Guarantee that approves or denies online orders; Policy Protect and Account Secure, which identifies and blocks consumers that may be taking advantage of the merchant's terms and conditions or that may be trying to gain unauthorized access to another consumer's account; Deco and PSD2, a optimize products that help merchants to avoid bank authorization failures and abandoned shopping carts resulting from the secure customer authentication process.

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