Veritone, Inc. (NASDAQ:VERI) Stock Has Average Price Target of $6.12 According to Analysts

Shares of Veritone, Inc. (NASDAQ:VERI) have earned a consensus recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $6.12.

A number of equities research analysts have recently weighed in on VERI shares. Weiss Ratings upgraded Veritone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 9th. Needham & Company LLC decreased their price objective on shares of Veritone to $5.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Veritone from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st.

Insider Transactions at Veritone

In related news, CEO Ryan Steelberg purchased 148,810 shares of the business’s stock in a transaction on Friday, August 21st. The shares were acquired at an average price of $0.85 per share, for a total transaction of $126,488.50. Following the purchase, the chief executive officer owned 730,284 shares of the company’s stock, valued at $620,741.40. This trade represents a 25.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.37% of the company’s stock.

Institutional Investors Weigh In On Veritone

A number of large investors have recently made changes to their positions in VERI. Two Sigma Securities LLC acquired a new position in shares of Veritone in the second quarter valued at about $38,000. Bank of America Corp DE acquired a new stake in shares of Veritone during the second quarter worth about $185,000. Quantbot Technologies LP purchased a new stake in Veritone in the second quarter valued at approximately $181,000. Citizens Financial Group Inc. RI purchased a new stake in Veritone in the second quarter valued at approximately $37,000. Finally, BlackRock Inc. purchased a new stake in Veritone in the second quarter valued at approximately $9,003,000. 39.18% of the stock is owned by hedge funds and other institutional investors.

Veritone Price Performance

Veritone stock opened at $0.75 on Friday. The stock has a market capitalization of $75.86 million, a price-to-earnings ratio of -1.96 and a beta of 2.33. Veritone has a 1-year low of $0.72 and a 1-year high of $9.42. The business has a fifty day moving average price of $1.05 and a 200-day moving average price of $1.53.

Veritone (NASDAQ:VERI) last announced its earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Veritone had a negative return on equity of 159.15% and a negative net margin of 111.90%.The firm had revenue of $24.26 million for the quarter, compared to the consensus estimate of $28.29 million.

Veritone Company Profile

Veritone, Inc is an artificial intelligence company that develops software for analyzing, managing and automating work with audio, video and other data. Its core platform, aiWARE, is designed to connect and orchestrate artificial intelligence models from Veritone and third parties, helping organizations apply AI to tasks such as search, transcription, classification, content moderation and workflow automation.

The company serves customers across media and entertainment, public sector and law enforcement, talent acquisition, sports and other industries.