JPMorgan Chase & Co. Lowers Riskified (NYSE:RSKD) Price Target to $6.00

Riskified (NYSE:RSKD) had its price objective cut by JPMorgan Chase & Co. from $7.00 to $6.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the company. UBS Group reduced their target price on Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Keefe, Bruyette & Woods decreased their price objective on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a report on Thursday, November 14th. Piper Sandler upped their target price on shares of Riskified from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. The Goldman Sachs Group lifted their price target on shares of Riskified from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Thursday, March 6th. Finally, DA Davidson upgraded Riskified from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $5.00 to $7.00 in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.78.

Riskified Stock Performance

Shares of NYSE RSKD opened at $4.72 on Monday. Riskified has a fifty-two week low of $4.14 and a fifty-two week high of $6.64. The company has a market cap of $840.57 million, a price-to-earnings ratio of -23.57 and a beta of 1.37. The business’s 50 day moving average price is $5.15 and its 200-day moving average price is $4.85.

Riskified declared that its Board of Directors has initiated a stock buyback plan on Wednesday, November 13th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Riskified

A number of hedge funds have recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Riskified by 76.0% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock worth $31,854,000 after buying an additional 2,907,585 shares during the last quarter. Monimus Capital Management LP purchased a new position in shares of Riskified in the fourth quarter worth $3,428,000. Jennison Associates LLC lifted its stake in shares of Riskified by 11.2% during the third quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock worth $26,877,000 after buying an additional 573,596 shares during the period. Millennium Management LLC grew its holdings in shares of Riskified by 171.0% during the fourth quarter. Millennium Management LLC now owns 766,977 shares of the company’s stock valued at $3,628,000 after buying an additional 483,975 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Riskified during the third quarter valued at $1,438,000. Hedge funds and other institutional investors own 58.98% of the company’s stock.

Riskified Company Profile

Riskified Ltd., together with its subsidiaries, develops and offers an e-commerce risk management platform that allows online merchants to create trusted relationships with consumers in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. It offers Chargeback Guarantee that ensures the legitimacy of merchants' online orders; Policy Protect, a machine learning solution designed to detect and prevent refund and returns policy abuse in real-time; Account Secure, a solution that cross-checks every login attempt; Dispute Resolve, which is used to compile submissions for fraud and non-fraud related chargeback issues; and PSD2 Optimize that helps merchants avoid bank authorization failures and abandoned shopping carts.