Veritone, Inc. (NASDAQ:VERI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Veritone, Inc. (NASDAQ:VERIGet Free Report) have been given a consensus rating of “Hold” by the five analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $7.3750.

A number of brokerages recently weighed in on VERI. Weiss Ratings raised Veritone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. UBS Group began coverage on Veritone in a research note on Monday, June 1st. They issued a “neutral” rating and a $2.50 price objective on the stock. D. Boral Capital reissued a “buy” rating and issued a $8.00 price objective on shares of Veritone in a research note on Wednesday, April 15th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Veritone in a research note on Monday, March 30th. Finally, Wall Street Zen downgraded Veritone from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st.

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Key Veritone News

Here are the key news stories impacting Veritone this week:

Veritone Price Performance

Shares of Veritone stock opened at $1.28 on Friday. The firm has a market cap of $118.98 million, a price-to-earnings ratio of -2.78 and a beta of 2.23. Veritone has a 52-week low of $1.22 and a 52-week high of $9.42. The stock has a 50-day simple moving average of $1.92 and a 200-day simple moving average of $3.01.

Veritone (NASDAQ:VERIGet Free Report) last announced its quarterly earnings results on Wednesday, April 15th. The company reported $999.00 earnings per share (EPS) for the quarter. Veritone had a negative return on equity of 198.79% and a negative net margin of 117.88%. As a group, equities research analysts predict that Veritone will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. SummitTX Capital L.P. bought a new position in shares of Veritone in the 1st quarter valued at approximately $26,000. OMERS ADMINISTRATION Corp grew its holdings in Veritone by 115.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 76,800 shares of the company’s stock valued at $151,000 after buying an additional 41,200 shares during the last quarter. Inspire Investing LLC increased its position in Veritone by 165.0% in the 1st quarter. Inspire Investing LLC now owns 269,112 shares of the company’s stock worth $530,000 after buying an additional 167,576 shares during the period. Balyasny Asset Management L.P. bought a new position in Veritone in the 4th quarter worth approximately $630,000. Finally, 683 Capital Management LLC bought a new position in Veritone in the 4th quarter worth approximately $891,000. 39.18% of the stock is owned by institutional investors.

Veritone Company Profile

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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.

Further Reading

Analyst Recommendations for Veritone (NASDAQ:VERI)

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