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

Shares of Veritone, Inc. (NASDAQ:VERI) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $7.3750.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VERI. Banta Asset Management LP acquired a new stake in Veritone during the fourth quarter valued at approximately $12,268,000. Themes Management Co LLC acquired a new position in shares of Veritone in the 4th quarter worth approximately $2,750,000. Royce & Associates LP lifted its position in shares of Veritone by 60.4% during the 4th quarter. Royce & Associates LP now owns 866,000 shares of the company’s stock worth $4,027,000 after buying an additional 326,000 shares during the period. Perkins Capital Management Inc. bought a new position in shares of Veritone during the 4th quarter worth approximately $817,000. Finally, Farther Finance Advisors LLC boosted its stake in Veritone by 17.3% in the 4th quarter. Farther Finance Advisors LLC now owns 44,090 shares of the company’s stock valued at $205,000 after buying an additional 6,500 shares in the last quarter. Institutional investors and hedge funds own 39.18% of the company’s stock.

Veritone Trading Up 3.8%

NASDAQ VERI opened at $1.08 on Tuesday. The company has a fifty day simple moving average of $1.50 and a 200 day simple moving average of $2.40. The company has a market cap of $100.39 million, a P/E ratio of -2.35 and a beta of 2.28. Veritone has a 1 year low of $0.99 and a 1 year high of $9.42.

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.