Red Violet initiated with a Buy at Lake Street

Lake Street initiated coverage of Red Violet (RDVT) with a Buy rating and $60 price target Red Violet “has been growing like a weed” since the company was spun out of Cogint into its own public entity in 2018, according to the analyst, who adds that Red Violet continues to methodically knit its cloud-native identity verification services into the workflow of companies seeking real-time risk mitigation. The firm believes up-market sales traction and improved revenue retention can take shares higher, the analyst added.