Red Violet, Inc. (NASDAQ:RDVT) Stock Has Consensus Target Price of $86.00

Key Points

• Analysts have a “Moderate Buy” consensus on Red Violet, with five buy ratings and one hold; the average 12-month price target is $86.
• Red Violet reported quarterly EPS of $0.47, beating the $0.41 consensus, and revenue of $27.75 million, above expectations of $27.22 million.
• Shares traded at $73.57 on Friday, below the $86 average target; director William Livek also bought 2,000 shares at an average price of $71.49.

Shares of Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $86.00.

RDVT has been the subject of a number of research reports. Zacks Research downgraded shares of Red Violet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 20th. B. Riley Financial increased their price target 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 lifted their price objective on Red Violet from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, November 5th. Raymond James Financial initiated coverage on Red Violet in a research note on Thursday, September 17th. They set an "outperform" rating and a $90.00 price objective for the company. Finally, Wall Street Zen cut Red Violet from a "buy" rating to a "hold" rating in a report on Saturday, November 7th.

Red Violet Price Performance

RDVT traded down $2.43 during trading on Friday, reaching $73.57. 180,004 shares of the company's stock were exchanged, compared to its average volume of 183,506. Red Violet has a 1 year low of $33.40 and a 1 year high of $83.15. The stock has a market capitalization of $1.18 billion, a P/E ratio of 62.35 and a beta of 1.73. The company's fifty day simple moving average is $77.18 and its 200-day simple moving average is $58.35.

Red Violet (NASDAQ:RDVT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $27.75 million during the quarter, compared to analysts' expectations of $27.22 million. Red Violet had a net margin of 16.98% and a return on equity of 13.34%. Equities analysts forecast that Red Violet will post 1.18 EPS for the current year.

Insider Activity at Red Violet

In other Red Violet news, Director William Livek bought 2,000 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were purchased at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the transaction, the director directly owned 22,733 shares of the company's stock, valued at approximately $1,625,182.17. The trade was a 9.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Red Violet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its stake in shares of Red Violet by 9,350.0% during the third quarter. Global Retirement Partners LLC now owns 378 shares of the company's stock worth $30,000 after purchasing an additional 374 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Red Violet by 847.5% during the 3rd quarter. Sterling Capital Management LLC now owns 379 shares of the company's stock valued at $30,000 after buying an additional 339 shares during the period. Legal & General Group Plc acquired a new position in shares of Red Violet in the 2nd quarter valued at $175,000. State Board of Administration of Florida Retirement System acquired a new position in Red Violet in the third quarter valued at about $247,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Red Violet in the second quarter valued at approximately $200,000. Hedge funds and other institutional investors own 63.56% of the company's stock.

Red Violet Company Profile

Red Violet, Inc. is a data analytics and identity intelligence company that develops software to help organizations identify people and assess risk. Its platform combines and analyzes information from a range of sources to support identity verification, fraud prevention, investigations and related decisions. The company's products include idi, an identity intelligence platform for commercial and government users, and FOREWARN, a mobile application designed for real estate professionals to help verify identities and assess potential risks.

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