Veritone (NASDAQ:VERI) Raised to Hold at Wall Street Zen

Veritone (NASDAQ:VERI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Several other research analysts have also commented on the stock. D. Boral Capital reaffirmed a “buy” rating on shares of Veritone in a research note on Wednesday, October 15th. D Boral Capital raised shares of Veritone to a “strong-buy” rating in a research note on Tuesday, September 2nd. HC Wainwright boosted their target price on shares of Veritone from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Needham & Company LLC assumed coverage on shares of Veritone in a research note on Thursday. They set a “buy” rating and a $10.00 target price for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Veritone in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $6.60.

Veritone Trading Up 16.9%

VERI stock opened at $7.18 on Friday. The firm has a fifty day moving average price of $4.42 and a 200 day moving average price of $2.78. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $9.42. The company has a debt-to-equity ratio of 89.57, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $424.84 million, a PE ratio of -8.65 and a beta of 3.23.

Institutional Investors Weigh In On Veritone

A number of large investors have recently modified their holdings of VERI. Ground Swell Capital LLC purchased a new stake in shares of Veritone during the second quarter worth about $27,000. Virtu Financial LLC purchased a new stake in shares of Veritone during the first quarter worth about $30,000. Capital Advisors Inc. OK purchased a new stake in shares of Veritone during the first quarter worth about $70,000. NBZ Investment Advisors LLC purchased a new stake in shares of Veritone during the first quarter worth about $86,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Veritone during the first quarter worth about $102,000. Hedge funds and other institutional investors own 39.18% of the company’s stock.

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.