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

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

Several research firms recently issued reports on VERI. HC Wainwright increased their price target on shares of Veritone from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Veritone in a report on Wednesday, October 8th. Wall Street Zen upgraded Veritone from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. D Boral Capital upgraded Veritone to a “strong-buy” rating in a research report on Tuesday, September 2nd. Finally, D. Boral Capital reiterated a “buy” rating and set a $23.00 price objective on shares of Veritone in a research note on Tuesday, December 9th.

Hedge Funds Weigh In On Veritone

Several institutional investors have recently added to or reduced their stakes in VERI. Virtu Financial LLC bought a new stake in Veritone during the first quarter worth about $30,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Veritone in the 1st quarter worth approximately $315,000. Freedom Investment Management Inc. boosted its holdings in shares of Veritone by 6.3% in the 2nd quarter. Freedom Investment Management Inc. now owns 117,572 shares of the company’s stock worth $148,000 after acquiring an additional 6,954 shares in the last quarter. Ground Swell Capital LLC bought a new stake in Veritone during the 2nd quarter worth approximately $27,000. Finally, Geode Capital Management LLC increased its holdings in Veritone by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 480,842 shares of the company’s stock valued at $606,000 after purchasing an additional 19,597 shares in the last quarter. 39.18% of the stock is owned by institutional investors.

Veritone Stock Performance

VERI opened at $4.86 on Thursday. The stock’s 50 day simple moving average is $5.45 and its 200-day simple moving average is $3.66. 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 stock has a market cap of $446.20 million, a PE ratio of -7.25 and a beta of 2.04. Veritone has a 1 year low of $1.22 and a 1 year high of $9.42.

Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $29.12 million for 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.