Red Violet (NASDAQ:RDVT) Stock Rating Upgraded by Raymond James Financial

Red Violet (NASDAQ:RDVT) was upgraded by equities researchers at Raymond James Financial to a “moderate buy” rating in a research report issued on Thursday, Zacks reports.

A number of other brokerages have also recently commented on RDVT. Needham & Company LLC assumed coverage on shares of Red Violet in a report on Tuesday, September 1st. They set a “buy” rating and a $90.00 target price for the company. Wall Street Zen downgraded shares of Red Violet from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings lowered Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. B. Riley Financial raised their target price on Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Lake Street Capital lifted their target price on Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.50.

Red Violet Stock Down 1.5%

Red Violet stock opened at $75.94 on Thursday. The business has a 50-day simple moving average of $70.12 and a two-hundred day simple moving average of $55.38. The company has a market cap of $1.22 billion, a P/E ratio of 67.80 and a beta of 1.81. Red Violet has a 52-week low of $33.40 and a 52-week high of $80.29.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.17. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. The firm had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $25.62 million. Research analysts anticipate that Red Violet will post 1.16 EPS for the current fiscal year.

Insider Buying and Selling at Red Violet

In other news, Director William Livek acquired 2,000 shares of Red Violet stock in a transaction dated 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 completion of the purchase, the director directly owned 22,733 shares in the company, valued at approximately $1,625,182.17. This trade represents a 9.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Red Violet

A number of institutional investors have recently bought and sold shares of the business. State of Wyoming increased its stake in Red Violet by 5.4% in the 4th 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. EverSource Wealth Advisors LLC lifted its position in shares of Red Violet by 414.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock valued at $27,000 after acquiring an additional 377 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Red Violet by 569.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,547 shares of the company’s stock worth $88,000 after acquiring an additional 1,316 shares during the period. Legato Capital Management LLC boosted its stake in shares of Red Violet by 9.6% in the fourth quarter. Legato Capital Management LLC now owns 19,360 shares of the company’s stock worth $1,103,000 after acquiring an additional 1,696 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Red Violet by 22.6% during the first quarter. Hsbc Holdings PLC now owns 13,264 shares of the company’s stock worth $458,000 after purchasing an additional 2,441 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Red Violet Company Profile

Red Violet, Inc (NASDAQ: RDVT) is a technology company that provides data analytics and identity intelligence solutions. Its cloud-based platforms help organizations search, analyze and connect information from public and proprietary data sources to support investigations, risk management, fraud prevention and other decision-making processes.

The company’s products include idiCORE, an investigative and information platform designed for applications such as identity verification, collections, fraud detection and due diligence.