Craig Hallum downgraded shares of Veritone (NASDAQ:VERI) from a buy rating to a hold rating in a report published on Thursday, The Fly reports. Craig Hallum currently has $3.00 target price on the stock, down from their previous target price of $14.00.
VERI has been the subject of several other reports. Zacks Investment Research lowered Veritone from a buy rating to a hold rating in a report on Saturday, October 12th. ValuEngine upgraded Veritone from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Veritone presently has a consensus rating of Buy and a consensus target price of $8.82.
VERI traded up $0.01 during trading on Thursday, reaching $2.67. The company had a trading volume of 239,000 shares, compared to its average volume of 556,325. The company has a market cap of $59.11 million, a price-to-earnings ratio of -0.77 and a beta of 1.37. Veritone has a 12-month low of $2.43 and a 12-month high of $9.98. The firm’s 50-day simple moving average is $3.17 and its 200 day simple moving average is $5.90.
Veritone (NASDAQ:VERI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.78) by $0.35. The business had revenue of $12.81 million during the quarter, compared to analyst estimates of $12.75 million. Veritone had a negative return on equity of 96.89% and a negative net margin of 155.58%. The firm’s revenue was up 69.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.46) EPS. Analysts anticipate that Veritone will post -3.16 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC raised its stake in shares of Veritone by 76.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 23,008 shares of the company’s stock valued at $192,000 after acquiring an additional 9,942 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Veritone in the 2nd quarter valued at approximately $131,000. Northern Trust Corp raised its stake in shares of Veritone by 26.3% in the 2nd quarter. Northern Trust Corp now owns 123,846 shares of the company’s stock valued at $1,036,000 after acquiring an additional 25,751 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Veritone in the 2nd quarter valued at approximately $319,000. Finally, Citadel Advisors LLC bought a new position in shares of Veritone in the 2nd quarter valued at approximately $366,000. 18.00% of the stock is currently owned by institutional investors and hedge funds.
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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