Riskified initiated with a Neutral at DA Davidson

DA Davidson initiated coverage of Riskified with a Neutral rating and $5 price target. The firm views Riskified as “a leader in the eCommerce fraud prevention industry with ample merchant and geographic expansion opportunities as well as profitability potential over the longer term,” the analyst tells investors. However, deceleration in key performance indicators, or KPIs, reflects the impact of macro uncertainty, while a potential decline in consumer spending remains a near-term overhang, the analyst added.