Piper Sandler Reiterates Overweight Rating on Riskified Ltd. (RSKD)

Piper Sandler analyst Brent Bracelin reiterated an Overweight rating and $7.00 price target on Riskified Ltd. (NYSE: RSKD).

The analyst commented, "After significant 1H softness, 2H24 points to modest but encouraging improvements in the RSKD business, with tickets and travel seeing growth accelerate to >20% and US revenue growth accelerating to 14% from 11% last Q. The most important message of the quarter was vertical diversification. In Q3, the top ten new logos added came from six different verticals across four geographies. Additionally, YTD the company has already matched the number of new $1M+ ACV business arrangements to those achieved throughout 2023. On a negative note, the company saw a large merchant churn at the end of October (will result in an $18M NTM revenue headwind.) We remain optimistic on the company's execution, especially with the prospect of growth trends in core verticals stabilizing to improving. Within profitability, RSKD still on track to achieve ~800bps of EBITDA expansion despite spending headwinds yielding only 9% growth this year. Reiterate our $7 PT."

For an analyst ratings summary and ratings history on Riskified Ltd. click here. For more ratings news on Riskified Ltd. click here.

Shares of Riskified Ltd. closed at $4.56 yesterday.

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