Brokerages Set Veritone, Inc. (NASDAQ:VERI) Price Target at $10.00

Shares of Veritone, Inc. (NASDAQ:VERI) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $10.00.

A number of research analysts have issued reports on VERI shares. Wall Street Zen upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, October 8th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of Veritone in a research report on Tuesday, December 2nd. HC Wainwright increased their price target on shares of Veritone from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Finally, D. Boral Capital restated a “buy” rating and set a $23.00 price objective on shares of Veritone in a research report on Tuesday, December 9th.

Veritone Stock Performance

Shares of NASDAQ VERI opened at $4.81 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 6.77. Veritone has a 12 month low of $1.22 and a 12 month high of $9.42. The stock has a 50 day moving average of $5.07 and a 200-day moving average of $4.03. The company has a market capitalization of $441.61 million, a P/E ratio of -7.18 and a beta of 2.03.

Veritone (NASDAQ:VERI) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02. Veritone had a negative net margin of 42.60% and a negative return on equity of 361.72%. The firm had revenue of $29.12 million for the quarter, compared to analysts’ expectations of $28.69 million.

Institutional Trading of Veritone

Institutional investors and hedge funds have recently modified their holdings of the business. Freedom Investment Management Inc. grew its position in Veritone by 6.3% in the second quarter. Freedom Investment Management Inc. now owns 117,572 shares of the company’s stock valued at $148,000 after acquiring an additional 6,954 shares during the last quarter. Ground Swell Capital LLC bought a new stake in shares of Veritone during the 2nd quarter valued at approximately $27,000. Geode Capital Management LLC increased its position in Veritone by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 480,842 shares of the company’s stock worth $606,000 after purchasing an additional 19,597 shares in the last quarter. Connective Capital Management LLC bought a new position in Veritone in the 2nd quarter valued at approximately $657,000. Finally, Wesbanco Bank Inc. bought a new position in Veritone in the 3rd quarter valued at approximately $241,000. 39.18% of the stock is currently owned by institutional investors.

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.