Veritone (NASDAQ:VERI) Earns “Buy” Rating from D. Boral Capital

Veritone (NASDAQ:VERI)‘s stock had its “buy” rating reissued by stock analysts at D. Boral Capital in a research note issued on Friday,Benzinga reports. They presently have a $23.00 target price on the stock.

A number of other research firms also recently commented on VERI. Wall Street Zen upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research note on Sunday, October 26th. HC Wainwright increased their price target on shares of Veritone from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a report on Wednesday, January 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Veritone in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $10.00.

Veritone Stock Down 8.1%

Shares of Veritone stock opened at $3.52 on Friday. The business’s 50 day simple moving average is $4.73 and its 200 day simple moving average is $4.32. Veritone has a 52-week low of $1.22 and a 52-week high of $9.42. The firm has a market cap of $323.17 million, a PE ratio of -5.25 and a beta of 2.03. The company has a debt-to-equity ratio of 6.77, a quick ratio of 1.31 and a current ratio of 1.31.

Veritone (NASDAQ:VERI) last released 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 return on equity of 361.72% and a negative net margin of 42.60%.The firm had revenue of $29.12 million during the quarter, compared to the consensus estimate of $28.69 million.

Institutional Trading of Veritone

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings 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 period. Cooper Creek Partners Management LLC bought a new stake in shares of Veritone in the third quarter valued at approximately $11,718,000. Marshall Wace LLP boosted its stake 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 period. Royce & Associates LP acquired a new stake in Veritone during the third quarter worth approximately $2,603,000. Finally, Connective Capital Management LLC acquired a new position in Veritone in the 2nd quarter valued at $657,000. Institutional investors and hedge funds own 39.18% of the company’s stock.

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.