Red Violet, Inc. (NASDAQ:RDVT) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Red Violet has a “Moderate Buy” consensus rating: Four of five analysts recommend buying the stock, while one rates it a hold. The average 12-month price target is $77, with recent targets ranging from $73 to $81.
• The company reported quarterly earnings of $0.50 per share, beating the $0.33 consensus estimate, while revenue of $26.72 million also exceeded expectations.
• Red Violet shares opened at $73.16, near their 52-week high of $74.82. Director William Paul Livek also purchased 2,000 shares, and institutional investors own 63.56% of the company.

Shares of Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) have earned an average recommendation of "Moderate Buy" from the five ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $77.00.

A number of analysts have recently weighed in on RDVT shares. B. Riley Financial raised their price objective on Red Violet from $65.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Needham & Company LLC began coverage on shares of Red Violet in a research report on Tuesday. They issued a "buy" rating for the company. Weiss Ratings upgraded shares of Red Violet from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Zacks Research lowered shares of Red Violet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Lake Street Capital raised their price target on shares of Red Violet from $62.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th.

Insider Buying and Selling

In other news, Director William Paul Livek purchased 2,000 shares of the company's stock in a transaction on Thursday, August 27th. The shares were acquired at an average price of $71.49 per share, for a total transaction of $142,980.00. Following the purchase, the director owned 22,733 shares in the company, valued at $1,625,182.17. This trade represents a 9.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Red Violet

A number of large investors have recently bought and sold shares of the company. State of Wyoming raised its position in Red Violet by 5.4% during the 4th quarter. State of Wyoming now owns 5,430 shares of the company's stock worth $309,000 after buying an additional 279 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Red Violet by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company's stock worth $248,000 after acquiring an additional 312 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Red Violet by 145.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company's stock worth $32,000 after acquiring an additional 336 shares during the period. EverSource Wealth Advisors LLC raised its position in Red Violet by 414.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company's stock valued at $27,000 after acquiring an additional 377 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Red Violet by 4.9% during the fourth quarter. Deutsche Bank AG now owns 9,116 shares of the company's stock valued at $519,000 after acquiring an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company's stock.

Red Violet Price Performance

NASDAQ:RDVT opened at $73.16 on Tuesday. The firm has a market cap of $1.17 billion, a PE ratio of 65.32 and a beta of 1.82. The company has a 50-day moving average of $66.75 and a 200 day moving average of $52.17. Red Violet has a 1-year low of $33.40 and a 1-year high of $74.82.

Red Violet (NASDAQ:RDVT - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.17. The firm had revenue of $26.72 million during the quarter, compared to analysts' expectations of $25.62 million. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. Sell-side analysts anticipate that Red Violet will post 1.16 EPS for the current fiscal year.

About Red Violet

Red Violet, Inc NASDAQ: RDVT is a provider of advanced data, analytics and technology solutions designed to help organizations mitigate financial crime, fraud and security risks. The company’s cloud-native platform consolidates and enriches data from proprietary, public and third-party sources, applying artificial intelligence and machine learning to deliver insights across the risk-management lifecycle. Red Violet’s suite of services includes behavior-based transaction monitoring, automated watchlist and negative-news screening, enhanced due diligence and real-time geospatial threat intelligence.

Leveraging proprietary algorithms, Red Violet offers products that enable compliance teams to streamline anti-money laundering processes, improve fraud detection and respond swiftly to emerging threats.

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