Analysts Set Veritone, Inc. (NASDAQ:VERI) PT at $7.38

Shares of Veritone, Inc. (NASDAQ:VERI) have been assigned an average recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $7.3750.

Several research analysts have recently weighed in on VERI shares. Wall Street Zen lowered shares of Veritone from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Weiss Ratings downgraded shares of Veritone from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 15th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Veritone in a research report on Monday, March 30th. D. Boral Capital reaffirmed a “buy” rating and set a $8.00 price target on shares of Veritone in a research note on Wednesday, April 15th. Finally, UBS Group began coverage on shares of Veritone in a report on Monday, June 1st. They issued a “neutral” rating and a $2.50 price target on the stock.

Veritone Trading Down 6.2%

NASDAQ VERI opened at $1.06 on Tuesday. The business’s 50-day moving average price is $1.54 and its 200 day moving average price is $2.45. Veritone has a twelve month low of $0.99 and a twelve month high of $9.42. The company has a market capitalization of $98.53 million, a PE ratio of -2.30 and a beta of 2.28.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. State of Wyoming purchased a new stake in Veritone during the fourth quarter valued at about $25,000. SummitTX Capital L.P. purchased a new position in shares of Veritone in the 1st quarter worth about $26,000. Franklin Resources Inc. acquired a new position in shares of Veritone in the 3rd quarter valued at about $50,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Veritone in the 3rd quarter valued at about $80,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Veritone during the 3rd quarter worth about $82,000. 39.18% of the stock is owned by hedge funds and other institutional investors.

Veritone Company Profile

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.