Riskified (NYSE: RSKD) is a fintech company that uses artificial intelligence to help businesses predict and prevent e-commerce fraud. The company went public during the IPO frenzy of 2021, initially commanding a $3.3 billion valuation. But the stock has since sold-off sharply, fueled by weak third-quarter results and the prospect of rising interest rates, the latter of which tends to blunt economic growth. Riskified currently trades 81% below its all-time high.
However, some analysts are forecasting significant share price appreciation in the near term. For instance, Josh Beck of KeyBanc puts Riskified's price target at $25, implying 260% upside. Better yet, Terry Tillman of Truist Securities puts the price target at $35, implying 405% upside. Of course, you should never build an investment thesis around short-term price targets -- but given the conviction shown by these analysts, it's worth taking a closer look at Riskified.
Image source: Getty Images.
For further details see:
Market Sell-Off: This Growth Stock Could Skyrocket 260% (or More), Says Wall Street