Cowen started coverage on shares of Veritone (NASDAQ:VERI) in a research note issued to investors on Monday, MarketBeat reports. The brokerage issued an outperform rating and a $30.00 price target on the stock.
Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Veritone from a sell rating to a strong sell rating in a research note on Thursday, January 11th. Zacks Investment Research upgraded shares of Veritone from a sell rating to a hold rating in a research report on Friday, April 20th. B. Riley lowered their price objective on shares of Veritone from $15.00 to $10.00 and set a sell rating for the company in a research report on Tuesday, February 27th. Craig Hallum reiterated a buy rating and set a $23.00 price objective (down previously from $31.00) on shares of Veritone in a research report on Tuesday, February 27th. Finally, Roth Capital lowered their price objective on shares of Veritone from $62.00 to $32.00 and set a buy rating for the company in a research report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $21.38.
VERI opened at $18.59 on Monday. The firm has a market cap of $278.54 and a P/E ratio of -4.05. Veritone has a fifty-two week low of $7.76 and a fifty-two week high of $74.92.
Veritone (NASDAQ:VERI) last posted its earnings results on Monday, February 26th. The company reported ($0.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.24). The company had revenue of $3.49 million for the quarter, compared to analysts’ expectations of $4.41 million. Veritone had a negative net margin of 413.52% and a negative return on equity of 158.62%. The business’s revenue was up 75.4% on a year-over-year basis. During the same period in the previous year, the business posted ($4.12) earnings per share. equities analysts predict that Veritone will post -2.92 EPS for the current fiscal year.
In other news, CFO Peter F. Collins bought 10,000 shares of the stock in a transaction dated Thursday, March 8th. The stock was purchased at an average price of $14.16 per share, for a total transaction of $141,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director G Louis Graziadio III bought 12,400 shares of the stock in a transaction dated Wednesday, March 14th. The stock was purchased at an average price of $14.60 per share, with a total value of $181,040.00. Following the acquisition, the director now directly owns 83,349 shares in the company, valued at approximately $1,216,895.40. The disclosure for this purchase can be found here.
Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Veritone in the 3rd quarter worth about $132,000. Millennium Management LLC lifted its holdings in shares of Veritone by 16.8% in the 4th quarter. Millennium Management LLC now owns 21,944 shares of the company’s stock worth $509,000 after acquiring an additional 3,149 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of Veritone in the 3rd quarter worth about $205,000. Bank of Montreal Can lifted its holdings in shares of Veritone by 460.8% in the 4th quarter. Bank of Montreal Can now owns 12,118 shares of the company’s stock worth $281,000 after acquiring an additional 9,957 shares during the last quarter. Finally, Wells Fargo & Company MN bought a new stake in shares of Veritone in the 3rd quarter worth about $489,000. Hedge funds and other institutional investors own 9.83% of the company’s stock.
Veritone Company Profile
Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.
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