B. Riley starts ‘under-the-radar’ Red Violet with Buy

B. Riley initiated coverage of Red Violet with a Buy rating and $25 price target. The company is a “budding force in the realm of identity intelligence led by a team of data and analytics industry pioneers that have built, developed, and scaled multiple companies with successful exists.” the analyst tells investors in a research note. The firm views Red Violet as an “under-the-radar” identity verification and data fusion player. The stock has no analyst coverage despite healthy growth and improving profitability, says B. Riley, which believes the shares are also trading at “highly attractive” multiples.