Riskified (NYSE:RSKD) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Riskified (NYSE:RSKD) from a hold rating to a strong sell rating in a report released on Monday morning,Zacks reports.

Other equities research analysts also recently issued research reports about the stock. UBS Group boosted their target price on shares of Riskified from $5.00 to $6.75 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Truist Financial increased their target price on shares of Riskified from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. The Goldman Sachs Group lifted their price target on shares of Riskified from $5.50 to $7.50 and gave the company a “sell” rating in a report on Tuesday. DA Davidson reissued a “buy” rating and set a $7.50 price target on shares of Riskified in a report on Monday, August 24th. Finally, Keefe, Bruyette & Woods boosted their price target 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. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $7.17.

Riskified Trading Down 0.9%

Shares of RSKD opened at $8.49 on Monday. The stock has a market cap of $1.26 billion, a PE ratio of -77.23 and a beta of 1.25. Riskified has a 1 year low of $3.70 and a 1 year high of $8.78. The stock has a 50 day simple moving average of $6.67 and a 200-day simple moving average of $5.44.

Riskified (NYSE:RSKD) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Riskified had a negative return on equity of 3.93% and a negative net margin of 4.23%. The firm had revenue of $98.69 million for the quarter, compared to analysts’ expectations of $89.18 million. On average, sell-side analysts forecast that Riskified 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 Riskified stock in a transaction on 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. This trade represents a 24.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aglika Dotcheva sold 180,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $5.95, for a total value of $1,071,000.00. Following the completion of the transaction, the chief financial officer owned 1,510,874 shares in the company, valued at approximately $8,989,700.30. This represents a 10.65% decrease in their position. 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 have sold a total of 2,945,014 shares of company stock valued at $18,047,438 over the last ninety days. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Riskified

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in shares of Riskified in the 2nd quarter valued at about $1,505,000. Sei Investments Co. raised its holdings in shares of Riskified by 87.4% in the 1st quarter. Sei Investments Co. now owns 356,173 shares of the company’s stock valued at $1,396,000 after purchasing an additional 166,099 shares during the period. Tidal Investments LLC raised its holdings in shares of Riskified by 142.3% in the 2nd quarter. Tidal Investments LLC now owns 214,731 shares of the company’s stock valued at $1,082,000 after purchasing an additional 126,121 shares during the period. 9823 Capital L.P. acquired a new stake in Riskified in the 4th quarter valued at about $182,000. Finally, Renaissance Technologies LLC lifted its stake in 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 purchasing an additional 22,100 shares during the last quarter. 58.98% of the stock is owned by institutional investors and hedge funds.

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.