Red Violet (NASDAQ:RDVT – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.
A number of other research firms also recently weighed in on RDVT. Lake Street Capital boosted their target price on shares of Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. B. Riley Financial increased their price target on shares of Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Zacks Research upgraded Red Violet from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. Raymond James Financial initiated coverage on Red Violet in a research note on Thursday, September 17th. They set an “outperform” rating and a $90.00 price objective on the stock. Finally, Weiss Ratings upgraded Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $83.50.
Check Out Our Latest Analysis on Red Violet
Red Violet Stock Performance
Red Violet (NASDAQ:RDVT – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.17. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. The company had revenue of $26.72 million for the quarter, compared to the consensus estimate of $25.62 million. As a group, research analysts forecast that Red Violet will post 1.18 earnings per share for the current year.
Insiders Place Their Bets
In other Red Violet news, Director William Livek bought 2,000 shares of Red Violet stock in a transaction on Thursday, August 27th. The shares were acquired at an average price of $71.49 per share, for a total transaction of $142,980.00. Following the completion of the purchase, the director directly owned 22,733 shares in the company, valued at approximately $1,625,182.17. This trade represents a 9.65% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.90% of the stock is currently owned by insiders.
Institutional Trading of Red Violet
Several institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP grew its holdings in shares of Red Violet by 273.5% in the second quarter. Susquehanna International Group LLP now owns 21,729 shares of the company’s stock worth $1,385,000 after purchasing an additional 15,912 shares during the last quarter. Bank of America Corp DE purchased a new position in Red Violet in the 2nd quarter worth about $1,180,000. Man Group plc purchased a new position in Red Violet in the 2nd quarter worth about $2,618,000. Hsbc Holdings PLC purchased a new position in Red Violet in the 2nd quarter worth about $763,000. Finally, PDT Partners LLC bought a new stake in Red Violet during the 2nd quarter valued at about $3,039,000. 63.56% of the stock is currently owned by institutional investors.
Red Violet Company Profile
Red Violet, Inc (NASDAQ: RDVT) is a technology company that develops proprietary data analytics and information solutions for organizations in the public and private sectors. Its platforms are designed to help customers identify individuals and businesses, assess risk, detect potential fraud, and support investigative and compliance-related workflows.
The company’s primary offerings include idiCORE, a cloud-based investigative and information platform, and FOREWARN, a mobile application that provides real estate professionals with identity verification and risk assessment tools.
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