Red Violet (NASDAQ:RDVT) Shares Gap Up - What's Next?

Key Points

• Shares gapped up pre-market (prior close $36.90, open $39.19; last trade $38.485 with volume 4,139) and are trading below the 50‑day ($39.95) and well below the 200‑day ($48.43) moving averages.
• Analysts hold a consensus "Buy" rating with a $62.00 price target, after mixed recent actions (Zacks upgraded to Strong Buy while Wall Street Zen and Weiss Ratings trimmed their ratings).
• The latest quarter beat expectations — EPS $0.21 vs. $0.15 estimate and revenue $23.39M vs. $22.00M — with a 14.57% net margin and 12.88% ROE; analysts forecast ~0.51 EPS for the year.

Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $36.90, but opened at $39.19. Red Violet shares last traded at $38.4850, with a volume of 4,139 shares.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research upgraded shares of Red Violet from a "hold" rating to a "strong-buy" rating in a report on Monday, March 16th. Wall Street Zen lowered shares of Red Violet from a "strong-buy" rating to a "buy" rating in a report on Friday, January 23rd. Finally, Weiss Ratings lowered shares of Red Violet from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Red Violet currently has a consensus rating of "Buy" and a consensus price target of $62.00.

Red Violet Price Performance

The stock's 50 day simple moving average is $39.95 and its two-hundred day simple moving average is $48.43. The firm has a market cap of $544.49 million, a P/E ratio of 42.71 and a beta of 1.81.

Red Violet (NASDAQ:RDVT - Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.06. Red Violet had a net margin of 14.57% and a return on equity of 12.88%. The business had revenue of $23.39 million during the quarter, compared to the consensus estimate of $22.00 million. Equities research analysts anticipate that Red Violet, Inc. will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Red Violet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming increased its stake in shares of Red Violet by 5.4% during the fourth quarter. State of Wyoming now owns 5,430 shares of the company's stock valued at $309,000 after purchasing an additional 279 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Red Violet by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company's stock valued at $248,000 after acquiring an additional 312 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Red Violet by 145.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company's stock valued at $32,000 after acquiring an additional 336 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Red Violet by 414.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company's stock valued at $27,000 after acquiring an additional 377 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Red Violet by 4.9% during the fourth quarter. Deutsche Bank AG now owns 9,116 shares of the company's stock valued at $519,000 after acquiring an additional 426 shares in the last quarter. Institutional investors own 63.56% of the company's stock.

Red Violet Company Profile

Red Violet, Inc NASDAQ: RDVT is a provider of advanced data, analytics and technology solutions designed to help organizations mitigate financial crime, fraud and security risks. The company’s cloud-native platform consolidates and enriches data from proprietary, public and third-party sources, applying artificial intelligence and machine learning to deliver insights across the risk-management lifecycle. Red Violet’s suite of services includes behavior-based transaction monitoring, automated watchlist and negative-news screening, enhanced due diligence and real-time geospatial threat intelligence.

Leveraging proprietary algorithms, Red Violet offers products that enable compliance teams to streamline anti-money laundering processes, improve fraud detection and respond swiftly to emerging threats.

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