Piper Sandler Cuts Riskified (NYSE:RSKD) Price Target to $6.00

Key Points

• Piper Sandler has cut its price target for Riskified (NYSE: RSKD) from $7.00 to $6.00, while maintaining an "overweight" rating, indicating a potential upside of 35.59% based on recent trading prices.
• Institutional investors hold significant stakes in Riskified, with recent increases in holdings by the California State Teachers Retirement System and other firms, reflecting ongoing interest in the stock.
• Riskified's recent quarterly earnings report showed a loss of ($0.07) EPS, missing estimates, though revenue of $81.06 million exceeded expectations, suggesting some operational challenges despite year-over-year growth.

Riskified (NYSE:RSKD - Get Free Report) had its target price dropped by analysts at Piper Sandler from $7.00 to $6.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target would indicate a potential upside of 35.59% from the stock's previous close.

RSKD has been the topic of a number of other reports. Keefe, Bruyette & Woods boosted their price objective on shares of Riskified from $5.25 to $5.50 and gave the company a "market perform" rating in a research report on Thursday, May 15th. DA Davidson upped their target price on shares of Riskified from $6.00 to $6.50 and gave the company a "buy" rating in a research note on Thursday, May 15th. Truist Financial increased their target price on shares of Riskified from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, UBS Group lifted 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, three have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $6.04.

Riskified Price Performance

Shares of RSKD stock traded down $0.84 on Monday, hitting $4.43. The stock had a trading volume of 2,800,256 shares, compared to its average volume of 509,389. The stock has a market cap of $713.35 million, a price-to-earnings ratio of -20.11 and a beta of 1.37. The business has a 50 day moving average of $5.12 and a 200 day moving average of $4.97. Riskified has a 12-month low of $3.94 and a 12-month high of $5.99.

Riskified (NYSE:RSKD - Get Free Report) last issued its quarterly earnings data on Monday, August 18th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). The firm had revenue of $81.06 million for the quarter, compared to analysts' expectations of $80.17 million. Riskified had a negative net margin of 11.15% and a negative return on equity of 7.42%. Riskified's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. As a group, research analysts expect that Riskified will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in Riskified by 5.5% during the second quarter. California State Teachers Retirement System now owns 93,086 shares of the company's stock worth $464,000 after buying an additional 4,826 shares during the period. Y.D. More Investments Ltd lifted its holdings in shares of Riskified by 20.4% during the second quarter. Y.D. More Investments Ltd now owns 39,789 shares of the company's stock worth $198,000 after purchasing an additional 6,743 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Riskified in the second quarter valued at approximately $36,000. Lazard Asset Management LLC purchased a new stake in shares of Riskified in the fourth quarter valued at approximately $38,000. Finally, Group One Trading LLC boosted its stake in shares of Riskified by 4,503.5% in the fourth quarter. Group One Trading LLC now owns 8,719 shares of the company's stock valued at $41,000 after buying an additional 8,917 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.

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