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

Key Points

• Riskified shares reached a new 52-week high, trading as high as $8.80 and gaining 5.2%, supported by a market capitalization of approximately $1.30 billion.
• Analysts have raised several price targets, including Truist’s increase to $9.00, but the overall consensus remains “Reduce” with an average target of $7.17.
• Riskified reported quarterly revenue of $98.69 million, above the $89.18 million analyst estimate, while insiders sold nearly 2.9 million shares worth approximately $18.0 million over the past three months.

Riskified Ltd. (NYSE:RSKD - Get Free Report) reached a new 52-week high during trading on Tuesday. The stock traded as high as $8.80 and last traded at $8.7650, with a volume of 736,673 shares. The stock had previously closed at $8.34.

Wall Street Analysts Forecast Growth

RSKD has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Riskified from $5.50 to $6.25 and gave the company a "market perform" rating in a research report on Thursday, August 13th. Truist Financial increased their target price on Riskified from $7.50 to $9.00 and gave the company a "buy" rating in a report on Monday, September 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Riskified in a research note on Friday, August 14th. UBS Group raised their price target on Riskified from $5.00 to $6.75 and gave the company a "neutral" rating in a research note on Thursday, August 13th. Finally, The Goldman Sachs Group lifted their price target on Riskified from $5.50 to $7.50 and gave the stock a "sell" rating in a report on Tuesday, October 13th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $7.17.

Riskified Stock Up 5.2%

The company has a market cap of $1.30 billion, a price-to-earnings ratio of -79.86 and a beta of 1.25. The business's fifty day simple moving average is $6.92 and its two-hundred day simple moving average is $5.56.

Riskified (NYSE:RSKD - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $98.69 million during 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%. Sell-side analysts predict that Riskified Ltd. will post -0.03 EPS for the current fiscal year.

Insider Activity at Riskified

In other news, insider Assaf Feldman sold 450,000 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $6.01, for a total value of $2,704,500.00. Following the completion of the sale, the insider directly owned 1,417,371 shares of the company's stock, valued at approximately $8,518,399.71. The trade was a 24.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erez Shachar sold 289,400 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $6.12, for a total value of $1,771,128.00. Following the completion of the sale, the director directly owned 1,466,883 shares of the company's stock, valued at approximately $8,977,323.96. This trade represents a 16.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 2,895,705 shares of company stock worth $18,001,670. Insiders own 17.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in Riskified in the 2nd quarter valued at $1,505,000. Tidal Investments LLC boosted its stake in Riskified by 142.3% during the 2nd quarter. Tidal Investments LLC now owns 214,731 shares of the company's stock worth $1,082,000 after purchasing an additional 126,121 shares during the period. Sei Investments Co. boosted its stake in Riskified by 87.4% during the 1st quarter. Sei Investments Co. now owns 356,173 shares of the company's stock worth $1,396,000 after purchasing an additional 166,099 shares during the period. State of Alaska Department of Revenue purchased a new position in Riskified during the 3rd quarter worth $41,000. Finally, Engineers Gate Manager LP increased its stake in Riskified by 13.7% in the second quarter. Engineers Gate Manager LP now owns 64,591 shares of the company's stock valued at $326,000 after purchasing an additional 7,799 shares during the period. Hedge funds and other institutional investors own 58.98% of the company's stock.

About Riskified

Riskified Ltd. is a technology company that provides fraud and risk-management solutions for e-commerce merchants. Its platform uses data analytics, machine learning and behavioral insights to help online businesses distinguish legitimate customers from fraudulent activity while reducing friction during the purchasing process.

The company's products are designed to address risks across the digital commerce lifecycle, including payment fraud, chargebacks, account takeover, policy abuse and other forms of customer or transaction abuse.

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