Riskified (NYSE:RSKD) Hits New 52-Week High - Here's Why

Key Points

• Riskified shares reached a new 52-week high of $9.18, well above their 50-day and 200-day moving averages of $7.14 and $5.70, respectively.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” and an average price target of $7.17, despite Truist raising its target to $9.00 and maintaining a buy rating.
• Riskified matched quarterly earnings expectations at $0.02 per share and exceeded revenue estimates, but the company remains unprofitable; insiders sold approximately 2.89 million shares worth $17.97 million over the past three months.

Riskified Ltd. (NYSE:RSKD - Get Free Report)'s share price reached a new 52-week high during trading on Monday. The stock traded as high as $9.18 and last traded at $9.1010, with a volume of 5,745 shares. The stock had previously closed at $9.15.

Analyst Ratings Changes

Several analysts have commented on RSKD shares. Keefe, Bruyette & Woods lifted their target price on shares of Riskified from $5.50 to $6.25 and gave the stock a "market perform" rating in a research note on Thursday, August 13th. UBS Group lifted their price target on shares of Riskified from $5.00 to $6.75 and gave the company a "neutral" rating in a report on Thursday, August 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Riskified in a research note on Friday, August 14th. Truist Financial upped their price objective on Riskified from $7.50 to $9.00 and gave the stock a "buy" rating in a report on Monday, September 28th. Finally, Zacks Research cut Riskified from a "hold" rating to a "strong sell" rating in a report on Monday, October 12th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $7.17.

Riskified Price Performance

The business has a fifty day moving average price of $7.14 and a 200 day moving average price of $5.70. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -82.81 and a beta of 1.25.

Riskified (NYSE:RSKD - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $98.69 million for the quarter, compared to analysts' expectations of $89.18 million. Riskified had a negative net margin of 4.23% and a negative return on equity of 3.93%. Research analysts anticipate that Riskified Ltd. will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Assaf Feldman sold 43,904 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $6.51, for a total value of $285,815.04. Following the transaction, the insider owned 1,167,371 shares of the company's stock, valued at $7,599,585.21. This represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ravi Kumaraswami sold 65,000 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $8.36, for a total value of $543,400.00. Following the completion of the sale, the insider owned 1,423,665 shares of the company's stock, valued at $11,901,839.40. This represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,890,119 shares of company stock worth $17,972,343 in the last three months. Company insiders own 17.40% of the company's stock.

Institutional Trading of Riskified

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new stake in Riskified during the 3rd quarter valued at $41,000. R Squared Ltd increased its holdings in shares of Riskified by 57.8% during the 1st quarter. R Squared Ltd now owns 19,813 shares of the company's stock worth $78,000 after buying an additional 7,257 shares during the last quarter. Engineers Gate Manager LP grew its position in Riskified by 13.7% during the second quarter. Engineers Gate Manager LP now owns 64,591 shares of the company's stock valued at $326,000 after acquiring an additional 7,799 shares during the period. Modern Wealth Management LLC acquired a new position in shares of Riskified in the 1st quarter valued at about $56,000. Finally, State of Wyoming increased its position in Riskified by 16.4% during the 1st quarter. State of Wyoming now owns 107,785 shares of the company's stock worth $423,000 after purchasing an additional 15,195 shares in the last quarter. 58.98% of the stock is owned by institutional investors.

About Riskified

Riskified Ltd. NYSE: RSKD is a technology company that provides fraud and risk-management solutions for e-commerce businesses. Its platform uses data analysis, machine learning and automated decision-making to help merchants distinguish legitimate customers from potentially fraudulent transactions while supporting online sales and customer conversion.

The company's products are designed to address several stages of the digital commerce lifecycle, including payment approval, account protection, chargeback management and checkout optimization.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.