Riskified (NYSE:RSKD) Stock Price Down 5.2% – What’s Next?

Riskified Ltd. (NYSE:RSKD) fell 5.2% on Friday . The stock traded as low as $4.53 and last traded at $4.67. 659,705 shares changed hands during trading, an increase of 20% from the average session volume of 548,324 shares. The stock had previously closed at $4.92.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RSKD. UBS Group decreased their price target on Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. The Goldman Sachs Group increased their price target on Riskified from $4.00 to $4.50 and gave the stock a “sell” rating in a report on Thursday. Keefe, Bruyette & Woods cut their price objective on Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a research report on Thursday, November 14th. DA Davidson upgraded Riskified from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $5.00 to $7.00 in a research report on Monday, March 3rd. Finally, Piper Sandler increased their price objective on Riskified from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Riskified has a consensus rating of “Hold” and a consensus price target of $5.91.

Riskified Price Performance

The firm has a market cap of $828.09 million, a PE ratio of -23.22 and a beta of 1.37. The business has a 50-day moving average price of $5.16 and a two-hundred day moving average price of $4.86.

Riskified announced that its board has approved a share repurchase program on Wednesday, November 13th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Riskified

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RSKD. Olympiad Research LP purchased a new stake in Riskified during the 3rd quarter worth about $150,000. State of New Jersey Common Pension Fund D increased its position in Riskified by 107.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 67,686 shares of the company’s stock worth $320,000 after purchasing an additional 35,096 shares in the last quarter. Jennison Associates LLC increased its position in Riskified by 11.2% during the 3rd quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock worth $26,877,000 after purchasing an additional 573,596 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Riskified by 61.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,143 shares of the company’s stock worth $1,481,000 after purchasing an additional 119,038 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position 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 worth $31,854,000 after purchasing an additional 2,907,585 shares in the last quarter. Hedge funds and other institutional investors own 58.98% of the company’s stock.

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.