Barclays downgraded Riskified to Equal Weight from Overweight with an unchanged price target of $5. The company in Q3 unexpectedly lowered its fiscal 2023 revenue guidance, the analyst tells investors in a research note. The firm says with tailwinds from tickets and travel dissipating, Riskified’s long sales and revenue conversion cycle will weigh on revenue growth acceleration. In addition, the company’s “lengthy future path” to GAAP profitability as well as ongoing dilution from its high relative levels of stock-based compensation are sentiment headwinds.
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Read More on RSKD:
- Riskified downgraded to Neutral from Buy at UBS
- Riskified receives Israeli court approval for $75M share repurchase program
- Riskified price target lowered to $5 from $7 at Barclays
- Riskified lowers FY23 revenue view to $297M-$300M from $298M-$303M
- Riskified reports Q3 non-GAAP EPS (2c), consensus (6c)
