Riskified (NYSE:RSKD) Hits New 1-Year High – Time to Buy?

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

Analyst Ratings Changes

RSKD has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Riskified from $5.50 to $6.25 and gave the stock a “market perform” rating in a report on Thursday, August 13th. The Goldman Sachs Group increased their price objective on Riskified from $4.75 to $5.50 and gave the stock a “sell” rating in a research report on Wednesday, August 12th. UBS Group raised their target price on Riskified from $5.00 to $6.75 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. DA Davidson restated a “buy” rating and issued a $7.50 target price on shares of Riskified in a research report on Monday, August 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Riskified in a research note 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.83.

Riskified Trading Up 2.3%

The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -74.77 and a beta of 1.25. The firm’s fifty day moving average price is $6.47 and its 200 day moving average price is $5.34.

Riskified (NYSE:RSKD) last posted its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $98.69 million during the quarter, compared to the consensus estimate of $89.18 million. Riskified had a negative net margin of 4.23% and a negative return on equity of 3.93%. On average, analysts forecast that Riskified Ltd. will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ravi Kumaraswami sold 65,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $6.18, for a total transaction of $401,700.00. Following the completion of the transaction, the insider directly owned 1,551,246 shares in the company, valued at $9,586,700.28. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erez Shachar sold 47,651 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $6.18, for a total transaction of $294,483.18. Following the sale, the director owned 3,311,623 shares in the company, valued at $20,465,830.14. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,027,117 shares of company stock valued at $18,475,194. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Riskified

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its position 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 buying an additional 22,100 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Riskified in the second quarter valued at $1,505,000. Sei Investments Co. boosted its holdings in Riskified by 87.4% in the first 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 boosted its holdings in Riskified by 142.3% in the second 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. Finally, State of Wyoming grew its stake in Riskified by 16.4% during the 1st quarter. State of Wyoming now owns 107,785 shares of the company’s stock worth $423,000 after purchasing an additional 15,195 shares in the last quarter. 58.98% of the stock is owned by hedge funds and other institutional investors.

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.