Red Violet, Inc. (NASDAQ:RDVT) Stock Has Consensus Target Price of $83.50

Shares of Red Violet, Inc. (NASDAQ:RDVT) have been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $83.50.

A number of equities analysts have recently commented on the stock. Needham & Company LLC began coverage on shares of Red Violet in a report on Tuesday, September 1st. They issued a “buy” rating and a $90.00 price target on the stock. B. Riley Financial upped their target price on shares of Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Zacks Research raised Red Violet from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 21st. Wall Street Zen downgraded Red Violet from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. Finally, Raymond James Financial assumed coverage on Red Violet in a research report on Thursday, September 17th. They set an “outperform” rating and a $90.00 price target on the stock.

Red Violet Stock Performance

Red Violet stock opened at $78.55 on Friday. The firm’s fifty day moving average price is $71.09 and its 200-day moving average price is $56.49. Red Violet has a fifty-two week low of $33.40 and a fifty-two week high of $80.39. The stock has a market cap of $1.26 billion, a P/E ratio of 70.13 and a beta of 1.81.

Red Violet (NASDAQ:RDVT) last announced its earnings results on Monday, August 10th. The company reported $0.50 earnings per share 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 business had revenue of $26.72 million for the quarter, compared to the consensus estimate of $25.62 million. Sell-side analysts predict that Red Violet will post 1.18 earnings per share for the current year.

Insider Activity at Red Violet

In other news, Director William Livek acquired 2,000 shares of Red Violet stock in a transaction dated Thursday, August 27th. The shares were purchased at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the transaction, the director owned 22,733 shares of the company’s stock, valued at $1,625,182.17. This trade represents a 9.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Red Violet in the 2nd quarter worth approximately $60,582,000. Ashford Capital Management Inc. boosted its stake in shares of Red Violet by 3.8% during the 4th quarter. Ashford Capital Management Inc. now owns 602,818 shares of the company’s stock valued at $34,330,000 after purchasing an additional 22,110 shares in the last quarter. Wasatch Advisors LP boosted its position in Red Violet by 13.8% during the 1st quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock valued at $31,543,000 after acquiring an additional 110,421 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Red Violet by 18.4% in the first quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company’s stock worth $7,151,000 after purchasing an additional 32,189 shares during the period. Finally, Kennedy Capital Management LLC grew its position in shares of Red Violet by 46.4% in the 4th quarter. Kennedy Capital Management LLC now owns 123,688 shares of the company’s stock worth $7,044,000 after buying an additional 39,229 shares during the period. 63.56% of the stock is currently owned by institutional investors.

About Red Violet

Red Violet, Inc (NASDAQ: RDVT) is a technology company that provides data analytics and identity intelligence solutions. Its cloud-based platforms help organizations search, analyze and connect information from public and proprietary data sources to support investigations, risk management, fraud prevention and other decision-making processes.

The company’s products include idiCORE, an investigative and information platform designed for applications such as identity verification, collections, fraud detection and due diligence.