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

Veritone, Inc. (NASDAQ:VERI) has earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $10.00.

VERI has been the topic of a number of recent research reports. D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of Veritone in a research report on Friday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of Veritone in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a research report on Wednesday, January 21st. Wall Street Zen upgraded Veritone from a “sell” rating to a “hold” rating in a report on Sunday, October 26th. Finally, HC Wainwright lifted their price target on Veritone from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, October 20th.

Veritone Stock Up 1.6%

Shares of VERI opened at $3.73 on Friday. The stock has a 50 day moving average price of $4.71 and a 200 day moving average price of $4.39. Veritone has a one year low of $1.22 and a one year high of $9.42. The company has a debt-to-equity ratio of 6.77, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market capitalization of $342.45 million, a price-to-earnings ratio of -5.57 and a beta of 2.12.

Veritone (NASDAQ:VERI) last announced its earnings results on Thursday, November 6th. The company reported ($0.09) earnings per share (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 for the quarter, compared to analysts’ expectations of $28.69 million.

Institutional Trading of Veritone

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Veritone by 63.1% in the third quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company’s stock valued at $13,275,000 after acquiring an additional 1,065,460 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new position in shares of Veritone in the 3rd quarter valued at $11,718,000. Marshall Wace LLP grew its holdings in shares of Veritone by 16,314.3% during the 3rd 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 during the period. Royce & Associates LP purchased a new stake in Veritone in the 3rd quarter valued at about $2,603,000. Finally, Connective Capital Management LLC acquired a new position in Veritone in the second quarter valued at about $657,000. Hedge funds and other 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.