UBS Group Cuts Veritone (NASDAQ:VERI) Price Target to $2.00

Veritone (NASDAQ:VERI) had its price objective trimmed by UBS Group from $3.50 to $2.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts also recently issued reports about the company. D. Boral Capital restated a “buy” rating and set a $4.50 price objective on shares of Veritone in a research note on Monday, April 28th. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Veritone in a research note on Monday, March 17th. Finally, LADENBURG THALM/SH SH began coverage on Veritone in a research note on Monday, March 17th. They set a “buy” rating and a $6.00 price objective for the company.

Veritone Trading Down 9.3%

VERI stock opened at $1.81 on Friday. The firm has a market cap of $80.96 million, a P/E ratio of -0.84 and a beta of 3.06. Veritone has a 12-month low of $1.77 and a 12-month high of $5.64. The stock’s 50 day simple moving average is $2.30 and its 200 day simple moving average is $2.74.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Veritone by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 377,056 shares of the company’s stock worth $1,237,000 after acquiring an additional 13,397 shares during the period. Northern Trust Corp boosted its position in Veritone by 24.2% during the 4th quarter. Northern Trust Corp now owns 146,105 shares of the company’s stock worth $479,000 after acquiring an additional 28,510 shares during the period. Vanguard Capital Wealth Advisors boosted its position in Veritone by 6.5% during the 4th quarter. Vanguard Capital Wealth Advisors now owns 75,214 shares of the company’s stock worth $247,000 after acquiring an additional 4,614 shares during the period. XTX Topco Ltd boosted its position in Veritone by 47.1% during the 4th quarter. XTX Topco Ltd now owns 54,264 shares of the company’s stock worth $178,000 after acquiring an additional 17,383 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Veritone during the 1st quarter worth $102,000. 39.18% of the stock is currently owned by institutional investors.

Veritone Company Profile

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.