Red Violet, Inc. (NASDAQ:RDVT) Expected to Earn Q1 2024 Earnings of $0.06 Per Share

Red Violet, Inc. (NASDAQ:RDVT) – Research analysts at B. Riley issued their Q1 2024 earnings per share estimates for Red Violet in a report released on Monday, March 25th. B. Riley analyst J. Nichols expects that the company will post earnings of $0.06 per share for the quarter. B. Riley has a “Buy” rating and a $25.00 price target on the stock. B. Riley also issued estimates for Red Violet’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at $0.19 EPS and FY2025 earnings at $0.34 EPS.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $15.06 million for the quarter. Red Violet had a net margin of 22.47% and a return on equity of 16.92%.

Red Violet Trading Up 6.2 %

NASDAQ RDVT opened at $19.64 on Thursday. The stock’s 50 day moving average is $18.26 and its two-hundred day moving average is $19.29. The company has a market capitalization of $274.17 million, a price-to-earnings ratio of 20.89 and a beta of 1.13. Red Violet has a 1-year low of $15.20 and a 1-year high of $23.30.

Institutional Investors Weigh In On Red Violet

A number of institutional investors have recently added to or reduced their stakes in RDVT. Royal Bank of Canada acquired a new stake in Red Violet during the first quarter valued at approximately $28,000. BNP Paribas Arbitrage SA boosted its holdings in Red Violet by 10,472.2% during the second quarter. BNP Paribas Arbitrage SA now owns 1,903 shares of the company’s stock valued at $36,000 after purchasing an additional 1,885 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Red Violet by 70.7% during the third quarter. Tower Research Capital LLC TRC now owns 3,113 shares of the company’s stock valued at $54,000 after purchasing an additional 1,289 shares in the last quarter. Barclays PLC boosted its holdings in Red Violet by 542.0% during the fourth quarter. Barclays PLC now owns 2,613 shares of the company’s stock valued at $60,000 after purchasing an additional 2,206 shares in the last quarter. Finally, Citigroup Inc. acquired a new stake in Red Violet during the second quarter valued at approximately $68,000. 63.56% of the stock is owned by institutional investors and hedge funds.

About Red Violet

Red Violet, Inc, a software and services company, specializes in proprietary technologies and applying analytical capabilities to deliver identity intelligence in the United States. It offers idiCORE, an investigative solution used to address various organizational challenges, which include due diligence, risk mitigation, identity authentication, fraud detection and prevention, customer acquisition, and regulatory compliance; and FOREWARN, an app-based solution that provides instant knowledge before face-to-face engagement with a consumer, as well as helps professionals to identify and mitigate risk.