Veritone (NASDAQ:VERI) Price Target Cut to $24.00

Veritone (NASDAQ:VERIGet Rating) had its target price lowered by JMP Securities from $49.00 to $24.00 in a research note issued to investors on Friday, The Fly reports.

VERI has been the topic of a number of other reports. Zacks Investment Research downgraded Veritone from a hold rating to a sell rating in a report on Saturday, March 12th. Northland Securities cut their price objective on Veritone from $40.00 to $30.00 and set an outperform rating on the stock in a report on Friday, March 4th. Stifel Nicolaus cut their price objective on Veritone from $25.00 to $23.00 and set a hold rating on the stock in a report on Friday, March 4th. Bank of America began coverage on Veritone in a report on Wednesday, February 9th. They issued a buy rating and a $22.00 price objective on the stock. Finally, UBS Group began coverage on Veritone in a report on Tuesday, April 12th. They issued a neutral rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $24.83.

NASDAQ VERI opened at $10.83 on Friday. The business’s 50-day moving average price is $16.28 and its 200 day moving average price is $20.48. Veritone has a twelve month low of $10.60 and a twelve month high of $37.14. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 2.42.

Veritone (NASDAQ:VERIGet Rating) last released its earnings results on Thursday, March 3rd. The company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.42). Veritone had a negative return on equity of 79.71% and a negative net margin of 61.22%. The business had revenue of $55.15 million for the quarter, compared to analysts’ expectations of $44.65 million. As a group, research analysts anticipate that Veritone will post -0.81 earnings per share for the current year.

In related news, Director G Louis Graziadio III bought 9,000 shares of the stock in a transaction dated Friday, March 11th. The stock was acquired at an average price of $15.76 per share, for a total transaction of $141,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders bought 11,500 shares of company stock valued at $179,715. Insiders own 28.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System grew its stake in Veritone by 2.1% during the 4th quarter. California State Teachers Retirement System now owns 38,955 shares of the company’s stock valued at $876,000 after purchasing an additional 812 shares in the last quarter. Swiss National Bank grew its stake in Veritone by 1.5% during the 3rd quarter. Swiss National Bank now owns 61,400 shares of the company’s stock valued at $1,467,000 after purchasing an additional 900 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in Veritone by 28.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 4,576 shares of the company’s stock valued at $109,000 after purchasing an additional 1,000 shares in the last quarter. Invesco Ltd. grew its stake in Veritone by 11.3% during the 2nd quarter. Invesco Ltd. now owns 10,155 shares of the company’s stock valued at $201,000 after purchasing an additional 1,029 shares in the last quarter. Finally, Credit Suisse AG grew its stake in Veritone by 8.1% during the 4th quarter. Credit Suisse AG now owns 16,825 shares of the company’s stock valued at $378,000 after purchasing an additional 1,255 shares in the last quarter. Hedge funds and other institutional investors own 51.00% of the company’s stock.

Veritone Company Profile (Get Rating)

Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models, such as perception, prediction, and problem solving and optimization, as well as cognitive processes, including transcription, language translation, face detection and recognition, object detection and recognition, logo recognition, sentiment analysis, text keyword/topic analysis, audio/video fingerprinting, geolocation, visual moderation, and optical character recognition to reveal valuable insights from vast amounts of structured and unstructured data.

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