Riskified (NYSE:RSKD) Price Target Lowered to $6.00 at JPMorgan Chase & Co.

Riskified (NYSE:RSKD) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $7.00 to $6.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 31.15% from the stock’s current price.

A number of other brokerages have also recently issued reports on RSKD. DA Davidson raised shares of Riskified from a “neutral” rating to a “buy” rating and upped their target price for the company from $5.00 to $7.00 in a report on Monday, March 3rd. UBS Group dropped their price objective on Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. The Goldman Sachs Group lifted their target price on Riskified from $4.00 to $4.50 and gave the stock a “sell” rating in a research note on Thursday. Keefe, Bruyette & Woods cut their price target on Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a report on Thursday, November 14th. Finally, Piper Sandler upped their price objective on shares of Riskified from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.78.

Riskified Stock Performance

RSKD traded down $0.05 during trading on Monday, reaching $4.58. 242,451 shares of the stock were exchanged, compared to its average volume of 548,739. The stock’s 50 day moving average price is $5.16 and its two-hundred day moving average price is $4.86. Riskified has a twelve month low of $4.14 and a twelve month high of $6.64. The stock has a market cap of $815.61 million, a P/E ratio of -22.87 and a beta of 1.37.

Riskified declared that its board has approved a stock buyback plan on Wednesday, November 13th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RSKD. Lazard Asset Management LLC acquired a new stake in Riskified during the fourth quarter worth approximately $38,000. Group One Trading LLC grew its holdings in shares of Riskified by 4,503.5% during the 4th quarter. Group One Trading LLC now owns 8,719 shares of the company’s stock worth $41,000 after purchasing an additional 8,917 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Riskified during the 4th quarter worth $56,000. Cubist Systematic Strategies LLC acquired a new position in Riskified in the fourth quarter valued at about $74,000. Finally, Point72 Asset Management L.P. bought a new stake in Riskified during the fourth quarter worth about $88,000. 58.98% of the stock is owned by 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.