Brokerages Set Veritone, Inc. (NASDAQ:VERI) Price Target at $6.12

Veritone, Inc. (NASDAQ:VERI) has been given an average recommendation of “Hold” by the five analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $6.1250.

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of Veritone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Wall Street Zen raised shares of Veritone from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. UBS Group initiated coverage on shares of Veritone in a report on Monday, June 1st. They set a “neutral” rating and a $2.50 price target on the stock. Finally, Needham & Company LLC dropped their price target on shares of Veritone to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 14th.

Insider Buying and Selling

In other Veritone news, CEO Ryan Steelberg bought 148,810 shares of the business’s stock in a transaction on Friday, August 21st. The stock was purchased at an average price of $0.85 per share, for a total transaction of $126,488.50. Following the completion of the transaction, the chief executive officer directly owned 730,284 shares of the company’s stock, valued at $620,741.40. This trade represents a 25.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Veritone in the 2nd quarter valued at $9,003,000. Themes Management Co LLC bought a new position in Veritone in the 4th quarter valued at approximately $2,750,000. Banta Asset Management LP purchased a new stake in shares of Veritone during the fourth quarter valued at $12,268,000. Royce & Associates LP boosted its holdings in Veritone by 60.4% in the fourth quarter. Royce & Associates LP now owns 866,000 shares of the company’s stock worth $4,027,000 after purchasing an additional 326,000 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Veritone during the 2nd quarter valued at about $185,000. Institutional investors own 39.18% of the company’s stock.

Veritone Price Performance

NASDAQ:VERI opened at $1.04 on Wednesday. The stock has a market cap of $104.48 million, a P/E ratio of -2.74 and a beta of 2.26. The company has a fifty day moving average price of $1.06 and a 200 day moving average price of $1.75. Veritone has a one year low of $0.76 and a one year high of $9.42.

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

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.