JMP Securities Lowers Veritone (NASDAQ:VERI) Price Target to $11.00

Veritone (NASDAQ:VERIGet Rating) had its price objective lowered by JMP Securities from $17.00 to $11.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 75.44% from the company’s current price.

Separately, Bank of America lowered Veritone from a “buy” rating to a “neutral” rating and decreased their price target for the company from $14.00 to $10.00 in a research note on Wednesday, July 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.33.

Veritone Price Performance

Veritone stock opened at $6.27 on Wednesday. The stock’s fifty day moving average price is $6.35 and its two-hundred day moving average price is $7.27. Veritone has a one year low of $4.63 and a one year high of $35.87. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market cap of $226.57 million, a PE ratio of -4.27 and a beta of 2.92.

Veritone (NASDAQ:VERIGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.31. Veritone had a negative return on equity of 72.47% and a negative net margin of 40.29%. The firm had revenue of $34.24 million for the quarter, compared to analyst estimates of $37.72 million. As a group, research analysts expect that Veritone will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director G Louis Graziadio III acquired 5,000 shares of Veritone stock in a transaction that occurred on Thursday, August 18th. The shares were acquired at an average price of $7.48 per share, for a total transaction of $37,400.00. Following the transaction, the director now directly owns 157,054 shares of the company’s stock, valued at approximately $1,174,763.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director G Louis Graziadio III bought 5,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were purchased at an average cost of $7.48 per share, with a total value of $37,400.00. Following the acquisition, the director now owns 157,054 shares of the company’s stock, valued at $1,174,763.92. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, President Ryan Steelberg bought 15,420 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were bought at an average cost of $6.98 per share, for a total transaction of $107,631.60. Following the completion of the acquisition, the president now directly owns 165,422 shares in the company, valued at approximately $1,154,645.56. The disclosure for this purchase can be found here. Insiders have bought 55,787 shares of company stock worth $386,235 in the last 90 days. Insiders own 27.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank acquired a new position in Veritone during the 1st quarter worth about $25,000. Rhumbline Advisers lifted its stake in shares of Veritone by 5.3% in the 1st quarter. Rhumbline Advisers now owns 30,876 shares of the company’s stock valued at $564,000 after purchasing an additional 1,543 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Veritone by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 105,758 shares of the company’s stock valued at $1,934,000 after purchasing an additional 1,737 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Veritone by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 75,055 shares of the company’s stock valued at $1,373,000 after purchasing an additional 2,061 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Veritone by 6.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 37,630 shares of the company’s stock valued at $688,000 after purchasing an additional 2,230 shares during the period. 44.27% of the stock is owned by institutional investors and hedge funds.

Veritone Company Profile

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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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