Riskified (NYSE:RSKD) Reaches New 52-Week High - Still a Buy?

Key Points

• Riskified shares reached a new 52-week high of $8.17, up from a prior close of $7.79, giving the company a market capitalization of about $1.19 billion.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $6.83 target price, although Truist raised its target to $9.00 and maintained a “Buy” rating.
• Riskified met quarterly EPS expectations and exceeded revenue forecasts, but remains unprofitable; meanwhile, insiders sold roughly 3.1 million shares worth $18.9 million during the last quarter.

Riskified Ltd. (NYSE:RSKD - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $8.17 and last traded at $8.1050, with a volume of 1736308 shares. The stock had previously closed at $7.79.

Analyst Ratings Changes

RSKD has been the topic of several analyst reports. DA Davidson reaffirmed a "buy" rating and issued a $7.50 target price on shares of Riskified in a report on Monday, August 24th. Keefe, Bruyette & Woods upped their price objective 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. Truist Financial lifted their target price on shares of Riskified from $7.50 to $9.00 and gave the company a "buy" rating in a research note on Monday, September 28th. UBS Group increased their price target on Riskified from $5.00 to $6.75 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Riskified in a report on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Riskified has a consensus rating of "Hold" and a consensus target price of $6.83.

Riskified Stock Up 3.4%

The business's fifty day moving average is $6.36 and its two-hundred day moving average is $5.29. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -73.50 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 (EPS) for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $98.69 million for the quarter, compared to the consensus estimate of $89.18 million. Riskified had a negative return on equity of 3.93% and a negative net margin of 4.23%. Research analysts forecast that Riskified Ltd. will post -0.03 EPS for the current year.

Insider Buying and Selling at Riskified

In other news, CEO Eido Gal sold 150,000 shares of Riskified stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $6.48, for a total transaction of $972,000.00. Following the completion of the sale, the chief executive officer owned 5,302,917 shares in the company, valued at $34,362,902.16. The trade was a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $6.12, for a total transaction of $1,771,128.00. Following the completion of the transaction, the director owned 1,466,883 shares in the company, valued at $8,977,323.96. This represents a 16.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,116,245 shares of company stock worth $18,940,442 over the last quarter. Company insiders own 17.40% of the company's stock.

Institutional Investors Weigh In On Riskified

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Riskified in the 2nd quarter valued at about $1,505,000. Tidal Investments LLC raised its holdings in Riskified by 142.3% in the second 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 position in shares of Riskified by 87.4% during the first 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 in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Riskified by 13.7% in the 2nd quarter. Engineers Gate Manager LP now owns 64,591 shares of the company's stock valued at $326,000 after buying an additional 7,799 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Riskified by 1.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,358,900 shares of the company's stock valued at $5,327,000 after buying an additional 22,100 shares in the last quarter. 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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