Riskified (NYSE:RSKD) Sets New 12-Month High – Here’s Why

Riskified Ltd. (NYSE:RSKD)’s stock price hit a new 52-week high during trading on Wednesday. The stock traded as high as $7.05 and last traded at $7.0110, with a volume of 5274450 shares trading hands. The stock had previously closed at $6.35.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RSKD shares. Keefe, Bruyette & Woods boosted their target price on shares of Riskified from $5.50 to $6.25 and gave the stock a “market perform” rating in a research note on Thursday, August 13th. DA Davidson reiterated a “buy” rating and issued a $7.50 price target on shares of Riskified in a research note on Monday, August 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Riskified in a report on Friday, August 14th. Wall Street Zen upgraded Riskified from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 30th. Finally, UBS Group upped their target price on Riskified from $5.00 to $6.75 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.50.

Riskified Stock Performance

The stock has a market capitalization of $1.16 billion, a P/E ratio of -71.36 and a beta of 1.38. The stock’s fifty day simple moving average is $5.93 and its two-hundred day simple moving average is $5.09.

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

Insider Transactions at Riskified

In related news, Director Erez Shachar sold 47,651 shares of Riskified stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $6.18, for a total value of $294,483.18. Following the transaction, the director directly owned 3,311,623 shares of the company’s stock, valued at $20,465,830.14. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eido Gal sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $6.48, for a total value of $972,000.00. Following the completion of the sale, the chief executive officer owned 5,302,917 shares in the company, valued at $34,362,902.16. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 4,989,901 shares of company stock worth $28,455,925. 17.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. T3 Companies LLC acquired a new position in Riskified in the fourth quarter valued at $54,000. Modern Wealth Management LLC acquired a new stake in Riskified during the 1st quarter worth about $56,000. R Squared Ltd raised its position in shares of Riskified by 57.8% in the 1st quarter. R Squared Ltd now owns 19,813 shares of the company’s stock worth $78,000 after acquiring an additional 7,257 shares in the last quarter. 9823 Capital L.P. bought a new position in shares of Riskified in the 4th quarter worth about $182,000. Finally, Engineers Gate Manager LP lifted its stake in shares of Riskified by 13.7% in the 2nd quarter. Engineers Gate Manager LP now owns 64,591 shares of the company’s stock valued at $326,000 after purchasing an additional 7,799 shares during the period. Institutional investors and hedge funds own 58.98% of the company’s stock.

Riskified Company Profile

Riskified Ltd. is a technology company that provides fraud and risk-management solutions for e-commerce businesses. Its platform uses data analytics, machine learning and network insights to help merchants distinguish legitimate customers from fraudulent transactions, reduce payment-related losses and improve the online shopping experience.

The company’s product offerings include solutions designed to protect merchants from chargebacks, identify and prevent policy abuse, secure customer accounts and support payment approval decisions.