Riskified (NYSE:RSKD) Sets New 52-Week High – Should You Buy?

Riskified Ltd. (NYSE:RSKD)’s share price reached a new 52-week high during trading on Tuesday. The company traded as high as $8.78 and last traded at $8.5760, with a volume of 3,429,889 shares. The stock had previously closed at $8.53.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RSKD shares. Truist Financial upped their target price on Riskified from $7.50 to $9.00 and gave the company a “buy” rating in a research report on Monday, September 28th. UBS Group increased their price target on shares of Riskified from $5.00 to $6.75 and gave the stock a “neutral” rating in a report on Thursday, August 13th. The Goldman Sachs Group raised their price target on shares of Riskified from $5.50 to $7.50 and gave the stock a “sell” rating in a research report on Tuesday. Zacks Research lowered shares of Riskified from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Riskified in a report on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $7.17.

Riskified Trading Down 4.4%

The firm has a 50-day simple moving average of $6.73 and a two-hundred day simple moving average of $5.47. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -73.50 and a beta of 1.25.

Riskified (NYSE:RSKD) last released its quarterly earnings data 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 business had revenue of $98.69 million during the quarter, compared to analyst estimates of $89.18 million. Equities research analysts anticipate that Riskified Ltd. will post -0.03 EPS for the current year.

Insider Activity

In related news, insider Assaf Feldman sold 43,904 shares of Riskified stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $6.51, for a total transaction of $285,815.04. Following the completion of the transaction, the insider directly owned 1,167,371 shares in the company, valued at approximately $7,599,585.21. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Avi Shauli sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $6.44, for a total value of $193,200.00. Following the completion of the transaction, the chief technology officer directly owned 485,625 shares of the company’s stock, valued at $3,127,425. The trade was a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,866,214 shares of company stock valued at $17,644,770 over the last 90 days. Company insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Riskified

Several institutional investors have recently made changes to their positions in RSKD. Tidal Investments LLC grew its position in Riskified by 142.3% during the second quarter. Tidal Investments LLC now owns 214,731 shares of the company’s stock valued at $1,082,000 after buying an additional 126,121 shares during the period. Engineers Gate Manager LP raised its position in shares of Riskified by 13.7% in the second quarter. Engineers Gate Manager LP now owns 64,591 shares of the company’s stock worth $326,000 after acquiring an additional 7,799 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Riskified in the second quarter worth about $1,505,000. Renaissance Technologies LLC raised its position in shares of Riskified by 1.7% in the first quarter. Renaissance Technologies LLC now owns 1,358,900 shares of the company’s stock worth $5,327,000 after acquiring an additional 22,100 shares during the period. Finally, Modern Wealth Management LLC acquired a new position in shares of Riskified in the first quarter worth about $56,000. 58.98% of the stock is owned by hedge funds and other institutional investors.

Riskified Company Profile

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.