Connor Clark & Lunn Investment Management Ltd. Raises Stake in Riskified Ltd. (NYSE:RSKD)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Riskified Ltd. by 24.5%, holding approximately 0.25% of the company worth $1.9 million after acquiring 80,725 shares in the first quarter.
• Research analysts have generally given Riskified a "Hold" consensus rating with an average target price of $6.03, with recent upgrades from various firms raising price targets.
• Riskified reported quarterly earnings of $0.03 per share, surpassing expectations, and generated revenue of $82.39 million, indicating a year-over-year growth of 7.9%.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Riskified Ltd. (NYSE:RSKD - Free Report) by 24.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 410,570 shares of the company's stock after buying an additional 80,725 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.25% of Riskified worth $1,897,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RSKD. JPMorgan Chase & Co. increased its position in Riskified by 5.3% during the fourth quarter. JPMorgan Chase & Co. now owns 921,811 shares of the company's stock worth $4,360,000 after purchasing an additional 46,088 shares during the last quarter. Renaissance Technologies LLC increased its position in Riskified by 2.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,181,400 shares of the company's stock worth $5,588,000 after purchasing an additional 26,200 shares during the last quarter. Marshall Wace LLP acquired a new position in Riskified during the fourth quarter worth approximately $823,000. Susquehanna Fundamental Investments LLC acquired a new position in Riskified during the fourth quarter worth approximately $264,000. Finally, Northern Trust Corp acquired a new position in Riskified during the fourth quarter worth approximately $655,000. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RSKD has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Riskified from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods upped their price target on shares of Riskified from $5.25 to $5.50 and gave the stock a "market perform" rating in a research report on Thursday, May 15th. DA Davidson boosted their price objective on shares of Riskified from $6.00 to $6.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, UBS Group boosted their price objective on shares of Riskified from $5.50 to $5.75 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $6.03.

Riskified Stock Up 2.9%

RSKD opened at $5.26 on Friday. The company has a market cap of $847.96 million, a P/E ratio of -23.91 and a beta of 1.37. The company has a 50 day moving average of $5.12 and a two-hundred day moving average of $4.97. Riskified Ltd. has a 52-week low of $3.94 and a 52-week high of $5.99.

Riskified (NYSE:RSKD - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $82.39 million during the quarter, compared to the consensus estimate of $79.23 million. Riskified had a negative net margin of 11.15% and a negative return on equity of 7.42%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. Research analysts anticipate that Riskified Ltd. will post -0.15 earnings per share for the current year.

Riskified 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.

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