Veritone (NASDAQ:VERI) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Veritone (NASDAQ:VERI) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $9.00 price objective on the stock.

A number of other research analysts have also issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Veritone from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Veritone in a research report on Tuesday, December 2nd. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of Veritone in a report on Friday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.75.

Veritone Stock Performance

Shares of VERI stock opened at $1.70 on Monday. The company has a market capitalization of $156.08 million, a P/E ratio of -2.54 and a beta of 2.16. The business’s 50 day moving average is $3.11 and its two-hundred day moving average is $4.46. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 6.77. Veritone has a 12-month low of $1.22 and a 12-month high of $9.42.

Institutional Trading of Veritone

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised 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 valued at $13,275,000 after purchasing an additional 1,065,460 shares during the last quarter. Banta Asset Management LP acquired a new stake in Veritone during the 4th quarter worth $12,268,000. Cooper Creek Partners Management LLC purchased a new stake in shares of Veritone during the third quarter worth $11,718,000. Marshall Wace LLP raised its position in shares of 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 last quarter. Finally, Geode Capital Management LLC raised its position in shares of Veritone by 81.4% in the fourth quarter. Geode Capital Management LLC now owns 984,749 shares of the company’s stock valued at $4,581,000 after buying an additional 441,875 shares during the last quarter. 39.18% of the stock is currently owned by hedge funds and other institutional investors.

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.