Veritone, Inc. (NASDAQ:VERI) Stock Rated “Hold” by Sell-Side Analysts

Veritone, Inc. (NASDAQ:VERI – Get Free Report) has earned an average rating of “Hold” from the five brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.12.

A number of brokerages have issued reports on VERI. Needham & Company LLC decreased their target price on Veritone to $5.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Weiss Ratings raised shares of Veritone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, September 9th. Finally, Wall Street Zen raised shares of Veritone from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st.

Read Our Latest Report on VERI

Insider Activity

In other news, CEO Ryan Steelberg acquired 148,810 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average cost of $0.85 per share, with a total value of $126,488.50. Following the acquisition, the chief executive officer owned 730,284 shares in the company, valued at approximately $620,741.40. This represents a 25.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SummitTX Capital L.P. bought a new stake in Veritone during the first quarter valued at about $26,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Veritone in the second quarter valued at about $37,000. Two Sigma Securities LLC acquired a new stake in shares of Veritone in the second quarter valued at about $38,000. OMERS ADMINISTRATION Corp increased its stake in shares of Veritone by 115.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 76,800 shares of the company’s stock worth $151,000 after purchasing an additional 41,200 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of Veritone in the second quarter worth about $113,000. Institutional investors own 39.18% of the company’s stock.

Veritone Price Performance

NASDAQ VERI opened at $0.55 on Friday. Veritone has a fifty-two week low of $0.54 and a fifty-two week high of $9.42. The stock’s 50-day moving average is $1.03 and its two-hundred day moving average is $1.49. The firm has a market cap of $56.20 million, a P/E ratio of -1.46 and a beta of 2.33.

Veritone (NASDAQ:VERI – Get Free Report) last released 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). Veritone had a negative return on equity of 159.15% and a negative net margin of 111.90%. The company had revenue of $24.26 million during the quarter, compared to the consensus estimate of $28.29 million.

About Veritone

(Get Free Report)

Veritone, Inc is an artificial intelligence company that develops software for analyzing, managing and automating work with audio, video and other data. Its core platform, aiWARE, is designed to connect and orchestrate artificial intelligence models from Veritone and third parties, helping organizations apply AI to tasks such as search, transcription, classification, content moderation and workflow automation.

The company serves customers across media and entertainment, public sector and law enforcement, talent acquisition, sports and other industries.

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Analyst Recommendations for Veritone (NASDAQ:VERI)

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