Riskified (NYSE:RSKD) Reaches New 12-Month High – Time to Buy?

Riskified Ltd. (NYSE:RSKD)’s share price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $8.17 and last traded at $8.1050, with a volume of 1736308 shares traded. The stock had previously closed at $7.79.

Wall Street Analysts Forecast Growth

RSKD has been the topic of several recent analyst reports. DA Davidson reiterated a “buy” rating and set a $7.50 price objective on shares of Riskified in a report on Monday, August 24th. Keefe, Bruyette & Woods raised their target price on shares of Riskified from $5.50 to $6.25 and gave the stock a “market perform” rating in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Riskified in a report on Friday, August 14th. UBS Group increased their price objective on shares of Riskified from $5.00 to $6.75 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Finally, The Goldman Sachs Group boosted their price objective on shares of Riskified from $4.75 to $5.50 and gave the company a “sell” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Riskified has an average rating of “Hold” and an average target price of $6.83.

Riskified Price Performance

The firm has a market cap of $1.19 billion, a P/E ratio of -73.50 and a beta of 1.25. The stock’s 50-day moving average price is $6.36 and its 200 day moving average price is $5.29.

Riskified (NYSE:RSKD) last issued 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 for the quarter, compared to analyst estimates of $89.18 million. As a group, analysts forecast that Riskified Ltd. will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Riskified news, CFO Aglika Dotcheva sold 180,000 shares of the firm’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 trade represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 owned 1,417,371 shares in the company, valued at approximately $8,518,399.71. This represents a 24.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 3,116,245 shares of company stock valued at $18,940,442. 17.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RSKD. Public Employees Retirement System of Ohio bought a new stake in shares of Riskified in the 2nd quarter valued at about $1,505,000. Tidal Investments LLC increased its position in Riskified by 142.3% during the second quarter. Tidal Investments LLC now owns 214,731 shares of the company’s stock worth $1,082,000 after buying an additional 126,121 shares during the last quarter. Sei Investments Co. raised its stake in Riskified by 87.4% in the first quarter. Sei Investments Co. now owns 356,173 shares of the company’s stock valued at $1,396,000 after buying an additional 166,099 shares during the period. Engineers Gate Manager LP raised its stake in Riskified by 13.7% in the second quarter. Engineers Gate Manager LP now owns 64,591 shares of the company’s stock valued at $326,000 after buying an additional 7,799 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Riskified by 1.7% in the first quarter. Renaissance Technologies LLC now owns 1,358,900 shares of the company’s stock valued at $5,327,000 after buying an additional 22,100 shares during the last quarter. 58.98% of the stock is currently owned by institutional investors and hedge funds.

About Riskified

Riskified Ltd. is a technology company that provides fraud and risk-management solutions for e-commerce merchants. Its platform uses data analytics, machine learning and behavioral insights to help online businesses distinguish legitimate customers from fraudulent activity while reducing friction during the purchasing process.

The company’s products are designed to address risks across the digital commerce lifecycle, including payment fraud, chargebacks, account takeover, policy abuse and other forms of customer or transaction abuse.