Riskified (NYSE:RSKD) Shares Gap Down - Here's Why

Riskified Ltd. (NYSE:RSKD - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $5.07, but opened at $4.92. Riskified shares last traded at $5.04, with a volume of 106,018 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RSKD. DA Davidson increased their price objective on Riskified from $6.00 to $6.50 and gave the company a "buy" rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods increased their price objective on Riskified from $5.25 to $5.50 and gave the company a "market perform" rating in a research report on Thursday, May 15th. Piper Sandler reiterated an "overweight" rating and set a $7.00 price objective on shares of Riskified in a research report on Monday, March 17th. The Goldman Sachs Group increased their price objective on Riskified from $4.00 to $4.50 and gave the company a "sell" rating in a research report on Thursday, March 6th. Finally, UBS Group increased their target price on Riskified from $5.50 to $5.75 and gave the company a "neutral" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Riskified has an average rating of "Hold" and a consensus target price of $6.03.

Riskified Trading Down 3.0%

The firm has a fifty day moving average of $4.64 and a two-hundred day moving average of $4.84. The company has a market capitalization of $781.86 million, a PE ratio of -24.25 and a beta of 1.36.

Riskified (NYSE:RSKD - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. Riskified had a negative return on equity of 6.00% and a negative net margin of 10.72%. The business had revenue of $82.39 million during the quarter, compared to analysts' expectations of $79.23 million. During the same quarter last year, the business posted $0.04 EPS. The business's revenue was up 7.9% on a year-over-year basis. On average, equities analysts expect that Riskified Ltd. will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Riskified

Several institutional investors and hedge funds have recently bought and sold shares of the business. Clearline Capital LP lifted its stake in shares of Riskified by 37.3% in the 1st quarter. Clearline Capital LP now owns 2,453,506 shares of the company's stock valued at $11,335,000 after purchasing an additional 666,175 shares during the period. Alta Fox Capital Management LLC bought a new stake in shares of Riskified in the 1st quarter worth $3,498,000. Cubist Systematic Strategies LLC increased its holdings in shares of Riskified by 767.7% in the 1st quarter. Cubist Systematic Strategies LLC now owns 136,287 shares of the company's stock worth $630,000 after purchasing an additional 120,581 shares in the last quarter. Trexquant Investment LP increased its holdings in shares of Riskified by 4.3% in the 1st quarter. Trexquant Investment LP now owns 336,666 shares of the company's stock worth $1,555,000 after purchasing an additional 13,994 shares in the last quarter. Finally, Penn Capital Management Company LLC bought a new stake in shares of Riskified in the 1st quarter worth $1,006,000. Hedge funds and other institutional investors 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.