Shares of Riskified Ltd. (RSKD) surged 5.98% in after-hours trading on Thursday, following a series of positive developments for the e-commerce fraud prevention company. The stock's upward movement was primarily driven by a new strategic partnership announcement and favorable analyst assessments.
Riskified revealed a significant collaboration with Amazon Web Services (AWS), joining the AWS Accelerate Program. This partnership will allow Riskified to integrate its AI-driven fraud prevention and chargeback management solutions into the AWS Marketplace. The move is expected to expand Riskified's reach to online sellers worldwide, potentially boosting the company's growth prospects and market position in the fraud prevention sector.
Adding to the positive sentiment, several analysts maintained or raised their price targets for Riskified. DA Davidson increased its price target to $6.50 from $6, maintaining a Buy rating. Truist Securities also raised its target to $8 from $7, reiterating a Buy rating. UBS lifted its price target to $5.75 from $5.50, though it maintained a Neutral stance. These analyst actions reflect growing confidence in Riskified's business model and future potential, likely contributing to the stock's after-hours rally.
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