Veritone, Inc. (NASDAQ:VERI) Given Average Recommendation of “Moderate Buy” by Analysts

Veritone, Inc. (NASDAQ:VERI) has been given an average recommendation of “Moderate Buy” by the seven research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $10.00.

A number of analysts recently issued reports on VERI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, October 8th. D. Boral Capital reiterated a “buy” rating and set a $23.00 price target on shares of Veritone in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of Veritone in a report on Tuesday, December 2nd. HC Wainwright boosted their price objective 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. Finally, D Boral Capital raised shares of Veritone to a “strong-buy” rating in a report on Tuesday, September 2nd.

Institutional Investors Weigh In On Veritone

Several large investors have recently added to or reduced their stakes in VERI. Vanguard Group Inc. increased its stake in Veritone by 63.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company’s stock worth $13,275,000 after acquiring an additional 1,065,460 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Veritone during the 3rd quarter valued at about $11,718,000. Marshall Wace LLP grew its holdings in shares of Veritone by 16,314.3% during the third quarter. Marshall Wace LLP now owns 1,676,397 shares of the company’s stock worth $8,080,000 after purchasing an additional 1,666,184 shares in the last quarter. Royce & Associates LP bought a new position in shares of Veritone in the third quarter worth approximately $2,603,000. Finally, Connective Capital Management LLC purchased a new stake in Veritone in the second quarter valued at approximately $657,000. Institutional investors own 39.18% of the company’s stock.

Veritone Price Performance

VERI opened at $5.85 on Thursday. The firm has a 50-day moving average price of $5.45 and a 200-day moving average price of $3.53. Veritone has a twelve month low of $1.22 and a twelve month high of $9.42. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 6.77. The company has a market capitalization of $537.09 million, a price-to-earnings ratio of -8.73 and a beta of 2.04.

Veritone (NASDAQ:VERI) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Veritone had a negative net margin of 42.60% and a negative return on equity of 361.72%. The company had revenue of $29.12 million during the quarter, compared to the consensus estimate of $28.69 million.

About Veritone

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.