Veritone, Inc. (NASDAQ:VERI) Receives Average Rating of “Moderate Buy” from Analysts

Veritone, Inc. (NASDAQ:VERI) has earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $10.00.

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, October 8th. HC Wainwright raised their price target on Veritone from $6.00 to $9.00 and gave the company a “buy” rating in a report on Monday, October 20th. D. Boral Capital reissued a “buy” rating and set a $23.00 price objective on shares of Veritone in a report on Tuesday, December 9th. Wall Street Zen upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Veritone in a research report on Tuesday, December 2nd.

Veritone Trading Up 3.0%

VERI opened at $4.79 on Monday. Veritone has a 1-year low of $1.22 and a 1-year high of $9.42. The stock has a market capitalization of $439.77 million, a PE ratio of -7.15 and a beta of 2.03. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 6.77. The firm has a 50-day moving average price of $5.18 and a two-hundred day moving average price of $3.97.

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

Institutional Trading of Veritone

Several institutional investors and hedge funds have recently made changes to their positions in VERI. Vanguard Group Inc. lifted its stake in shares of Veritone by 63.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company’s stock valued at $13,275,000 after purchasing an additional 1,065,460 shares during the period. Cooper Creek Partners Management LLC bought a new stake in Veritone in the third quarter valued at about $11,718,000. Marshall Wace LLP lifted its stake in Veritone by 16,314.3% in the third quarter. Marshall Wace LLP now owns 1,676,397 shares of the company’s stock valued at $8,080,000 after buying an additional 1,666,184 shares during the period. Royce & Associates LP bought a new position in Veritone during the third quarter worth about $2,603,000. Finally, Connective Capital Management LLC bought a new position in Veritone during the second quarter worth about $657,000. Institutional investors own 39.18% of the company’s stock.

About Veritone

Veritone, Inc (NASDAQ: VERI) is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.