Red Violet, Inc. (RDVT) – What Are Investment Firms Thinking About This Stock?

Shares of Red Violet, Inc. (NASDAQ:RDVT) have earned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $83.50.

Several brokerages recently weighed in on RDVT. Raymond James Financial assumed coverage on Red Violet in a research note on Thursday, September 17th. They set an “outperform” rating and a $90.00 target price on the stock. Needham & Company LLC started coverage on Red Violet in a research report on Tuesday, September 1st. They set a “buy” rating and a $90.00 target price on the stock. Wall Street Zen upgraded Red Violet from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Zacks Research raised Red Violet from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Finally, B. Riley Financial raised their price target on Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, July 30th.

Red Violet Trading Up 2.4%

NASDAQ RDVT opened at $76.25 on Wednesday. The firm’s fifty day simple moving average is $75.10 and its two-hundred day simple moving average is $61.34. Red Violet has a 12-month low of $33.40 and a 12-month high of $81.79. The firm has a market capitalization of $1.22 billion, a P/E ratio of 68.08 and a beta of 1.79.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.33 by $0.17. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. The firm had revenue of $26.72 million during the quarter, compared to analyst estimates of $25.62 million. As a group, sell-side analysts predict that Red Violet will post 1.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William Livek acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average cost of $71.49 per share, with a total value of $142,980.00. Following the transaction, the director directly owned 22,733 shares of the company’s stock, valued at $1,625,182.17. This trade represents a 9.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.90% of the stock is currently owned by company insiders.

Institutional Trading of Red Violet

Institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in Red Violet by 569.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,547 shares of the company’s stock worth $88,000 after purchasing an additional 1,316 shares during the last quarter. Hsbc Holdings PLC increased its stake in Red Violet by 22.6% during the 1st quarter. Hsbc Holdings PLC now owns 13,264 shares of the company’s stock valued at $458,000 after purchasing an additional 2,441 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Red Violet by 10.3% in the first quarter. Principal Financial Group Inc. now owns 28,829 shares of the company’s stock worth $997,000 after buying an additional 2,685 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Red Violet in the second quarter worth $175,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Red Violet during the second quarter worth $200,000. 63.56% of the stock is currently owned by institutional investors and hedge funds.

Red Violet Company Profile

Red Violet, Inc (NASDAQ: RDVT) is a technology company that develops proprietary data analytics and information solutions for organizations in the public and private sectors. Its platforms are designed to help customers identify individuals and businesses, assess risk, detect potential fraud, and support investigative and compliance-related workflows.

The company’s primary offerings include idiCORE, a cloud-based investigative and information platform, and FOREWARN, a mobile application that provides real estate professionals with identity verification and risk assessment tools.