Red Violet, Inc. (NASDAQ:RDVT) Stock Rated "Buy" by Wall Street Analysts

Key Points

• Analysts maintain a “Buy” consensus on Red Violet, with four buy ratings, one strong buy, and one hold among six analysts. The average 12-month price target is $83.50.
• Red Violet reported quarterly EPS of $0.50, beating estimates of $0.33, while revenue reached $26.72 million versus the $25.62 million consensus estimate.
• The stock opened at $78.55, near its 12-month high of $80.39, and institutional investors own 63.56% of shares. Director William Livek also increased his holdings by purchasing 2,000 shares.

Shares of Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) have received a consensus recommendation of "Buy" from the six research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $83.50.

RDVT has been the topic of a number of recent research reports. Needham & Company LLC started coverage on Red Violet in a research report on Tuesday, September 1st. They set a "buy" rating and a $90.00 price target on the stock. B. Riley Financial lifted their price objective on Red Violet from $65.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Wall Street Zen cut Red Violet from a "buy" rating to a "hold" rating in a research note on Saturday, September 19th. Lake Street Capital upped their price objective on shares of Red Violet from $62.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings lowered shares of Red Violet from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 11th.

Red Violet Stock Down 0.6%

Shares of NASDAQ:RDVT opened at $78.55 on Friday. The business's 50 day moving average is $71.09 and its 200 day moving average is $56.49. Red Violet has a 12-month low of $33.40 and a 12-month high of $80.39. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 70.13 and a beta of 1.81.

Red Violet (NASDAQ:RDVT - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.17. The business had revenue of $26.72 million during the quarter, compared to analyst estimates of $25.62 million. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. As a group, equities research analysts expect that Red Violet will post 1.18 earnings per share for the current year.

Insider Activity

In other Red Violet news, Director William Livek purchased 2,000 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the purchase, the director owned 22,733 shares of the company's stock, valued at $1,625,182.17. This represents a 9.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Red Violet

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Red Violet during the second quarter worth $60,582,000. Wasatch Advisors LP grew its position in shares of Red Violet by 13.8% in the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company's stock valued at $31,543,000 after purchasing an additional 110,421 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Red Violet by 581.8% in the first quarter. Renaissance Technologies LLC now owns 113,450 shares of the company's stock valued at $3,925,000 after purchasing an additional 96,810 shares in the last quarter. Ashford Capital Management Inc. raised its stake in shares of Red Violet by 13.9% during the 1st quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company's stock valued at $23,764,000 after purchasing an additional 83,998 shares during the period. Finally, Globeflex Capital L P bought a new stake in shares of Red Violet during the 2nd quarter valued at $5,280,000. Institutional investors own 63.56% of the company's stock.

Red Violet Company Profile

Red Violet, Inc NASDAQ: RDVT is a technology company that provides data analytics and identity intelligence solutions. Its cloud-based platforms help organizations search, analyze and connect information from public and proprietary data sources to support investigations, risk management, fraud prevention and other decision-making processes.

The company's products include idiCORE, an investigative and information platform designed for applications such as identity verification, collections, fraud detection and due diligence.

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