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

Riskified (NYSE:RSKD) had its target price lifted by investment analysts at The Goldman Sachs Group from $4.00 to $4.50 in a report released on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 12.20% from the stock’s current price.

RSKD has been the subject of several other reports. Keefe, Bruyette & Woods decreased 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. DA Davidson raised shares of Riskified from a “neutral” rating to a “buy” rating and lifted their target price for the company from $5.00 to $7.00 in a report on Monday. UBS Group cut their price target on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Piper Sandler lifted their price objective on Riskified from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Riskified currently has an average rating of “Hold” and an average target price of $5.91.

Riskified Stock Down 1.6 %

RSKD stock traded down $0.09 during trading on Thursday, hitting $5.13. The company had a trading volume of 456,740 shares, compared to its average volume of 530,631. Riskified has a 1-year low of $4.14 and a 1-year high of $6.64. The firm has a 50-day moving average price of $5.16 and a 200-day moving average price of $4.86. The firm has a market cap of $913.66 million, a PE ratio of -25.72 and a beta of 1.38.

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

Institutional Investors Weigh In On Riskified

A number of institutional investors and hedge funds have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd raised its holdings in Riskified by 76.0% during the third 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 during the last quarter. Jennison Associates LLC boosted its position in shares of Riskified by 0.3% in the 4th quarter. Jennison Associates LLC now owns 5,701,408 shares of the company’s stock worth $26,968,000 after buying an additional 19,264 shares in the last quarter. Harvey Partners LLC grew its stake in Riskified by 9.7% in the 3rd quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock valued at $15,266,000 after acquiring an additional 286,500 shares during the last quarter. Clearline Capital LP raised its position in Riskified by 10.3% during the third quarter. Clearline Capital LP now owns 1,853,922 shares of the company’s stock worth $8,769,000 after acquiring an additional 173,694 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Riskified by 2.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,181,400 shares of the company’s stock valued at $5,588,000 after purchasing an additional 26,200 shares in the last quarter. Institutional investors and hedge funds own 58.98% of the company’s stock.

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.