Red Violet (NASDAQ:RDVT) Stock Rating Upgraded by Zacks Research

Red Violet (NASDAQ:RDVT) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Weiss Ratings cut Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Wall Street Zen lowered Red Violet from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $62.00.

Red Violet Trading Down 0.3%

RDVT stock opened at $39.60 on Monday. Red Violet has a 12-month low of $32.23 and a 12-month high of $64.14. The stock has a market cap of $558.76 million, a price-to-earnings ratio of 44.00 and a beta of 1.67. The business’s 50-day moving average is $44.64 and its 200 day moving average is $50.34.

Red Violet (NASDAQ:RDVT) last announced its earnings results on Wednesday, March 4th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The business had revenue of $23.39 million during the quarter, compared to analysts’ expectations of $22.00 million. Red Violet had a return on equity of 12.88% and a net margin of 14.57%. As a group, equities analysts forecast that Red Violet will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Violet

Several hedge funds and other institutional investors have recently made changes to their positions in RDVT. State of Wyoming lifted its position in Red Violet by 5.4% during the fourth quarter. State of Wyoming now owns 5,430 shares of the company’s stock worth $309,000 after buying an additional 279 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Red Violet by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after buying an additional 312 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Red Violet by 0.8% in the 2nd quarter. Prudential Financial Inc. now owns 39,407 shares of the company’s stock worth $1,939,000 after acquiring an additional 332 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Red Violet by 145.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock worth $32,000 after acquiring an additional 336 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Red Violet by 414.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock worth $27,000 after acquiring an additional 377 shares during the period. Institutional investors and hedge funds own 63.56% of the company’s stock.

About Red Violet

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.