Riskified (NYSE:RSKD) Trading 7.6% Higher – Should You Buy?

Riskified Ltd. (NYSE:RSKD) shares rose 7.6% during mid-day trading on Tuesday . The stock traded as high as $6.81 and last traded at $6.83. Approximately 3,562,063 shares traded hands during mid-day trading, an increase of 254% from the average daily volume of 1,006,210 shares. The stock had previously closed at $6.35.

Analysts Set New Price Targets

RSKD has been the topic of a number of analyst reports. DA Davidson reiterated a “buy” rating and issued a $7.50 target price on shares of Riskified in a research report on Monday, August 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Riskified in a research report on Friday, August 14th. The Goldman Sachs Group raised their price objective on Riskified from $4.75 to $5.50 and gave the company a “sell” rating in a research note on Wednesday, August 12th. UBS Group lifted their price objective on Riskified from $5.00 to $6.75 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Wall Street Zen raised Riskified from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.50.

Riskified Price Performance

The business has a 50 day moving average of $5.88 and a 200 day moving average of $5.06. The company has a market cap of $1.06 billion, a PE ratio of -65.05 and a beta of 1.38.

Riskified (NYSE:RSKD) last released its quarterly 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 company had revenue of $98.69 million for the quarter, compared to analyst estimates of $89.18 million. Riskified had a negative return on equity of 3.93% and a negative net margin of 4.23%. Sell-side analysts forecast that Riskified Ltd. will post -0.03 EPS for the current fiscal year.

Insider Activity

In other Riskified news, CFO Aglika Dotcheva sold 180,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $5.95, for a total value of $1,071,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,510,874 shares in the company, valued at $8,989,700.30. This represents a 10.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Assaf Feldman sold 450,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $6.01, for a total value of $2,704,500.00. Following the sale, the insider directly owned 1,417,371 shares in the company, valued at $8,518,399.71. This trade represents a 24.10% 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. Insiders have sold 5,346,001 shares of company stock worth $30,243,545 over the last ninety days. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of Riskified

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

About Riskified

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.