Veritone, Inc. (VERI) Trading 18.6% Higher

Shares of Veritone, Inc. (NASDAQ:VERI) traded up 18.6% during trading on Tuesday . The company traded as high as $29.01 and last traded at $28.70. 686,478 shares changed hands during trading, an increase of 374% from the average session volume of 144,814 shares. The stock had previously closed at $24.20.

A number of analysts recently commented on the company. B. Riley reaffirmed a “veri (” rating and set a $18.00 price objective on shares of Veritone in a research note on Wednesday, August 9th. Wunderlich reissued a “buy” rating and issued a $18.00 price target on shares of Veritone in a research note on Wednesday, June 21st. Zacks Investment Research lowered Veritone from a “buy” rating to a “sell” rating in a research note on Friday, August 11th. Northland Securities began coverage on Veritone in a research note on Tuesday, June 6th. They issued an “outperform” rating and a $19.00 price target on the stock. Finally, Craig Hallum began coverage on Veritone in a research note on Tuesday, June 6th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Veritone presently has a consensus rating of “Buy” and a consensus target price of $16.44.

The firm’s market cap is $429.27 million. The stock has a 50 day moving average price of $11.86 and a 200 day moving average price of $12.20.

Veritone (NASDAQ:VERI) last issued its quarterly earnings results on Monday, August 7th. The company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.13). The firm had revenue of $4.09 million during the quarter, compared to analyst estimates of $2.99 million. On average, equities research analysts predict that Veritone, Inc. will post ($5.37) earnings per share for the current year.

Several hedge funds have recently modified their holdings of VERI. Uniplan Investment Counsel Inc. purchased a new position in shares of Veritone during the second quarter valued at $5,740,000. B. Riley Financial Inc. purchased a new position in shares of Veritone during the second quarter valued at $2,022,000. Manatuck Hill Partners LLC purchased a new position in shares of Veritone during the second quarter valued at $1,757,000. Unterberg Capital LLC purchased a new position in shares of Veritone during the second quarter valued at $937,000. Finally, UBS Oconnor LLC purchased a new position in shares of Veritone during the second quarter valued at $586,000. Institutional investors and hedge funds own 9.73% of the company’s stock.

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Veritone Company Profile

Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.

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