Shares of Veritone, Inc. (NASDAQ:VERI – Get Free Report) have been assigned a consensus rating of “Hold” from the five research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $6.1250.
Several brokerages recently commented on VERI. Needham & Company LLC cut their price target on shares of Veritone to $5.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Wall Street Zen raised shares of Veritone from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. UBS Group began coverage on Veritone in a research report on Monday, June 1st. They set a “neutral” rating and a $2.50 target price for the company. Finally, Weiss Ratings raised Veritone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 9th.
View Our Latest Research Report on VERI
Veritone Stock Down 3.5%
Veritone (NASDAQ:VERI – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Veritone had a negative net margin of 111.90% and a negative return on equity of 159.15%. The business had revenue of $24.26 million for the quarter, compared to analysts’ expectations of $28.29 million.
Insider Activity
In other Veritone news, CEO Ryan Steelberg acquired 148,810 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was bought at an average price of $0.85 per share, for a total transaction of $126,488.50. Following the acquisition, the chief executive officer directly owned 730,284 shares in the company, valued at $620,741.40. The trade was a 25.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.37% of the company’s stock.
Institutional Trading of Veritone
A number of hedge funds and other institutional investors have recently bought and sold shares of VERI. Jefferies Financial Group Inc. raised its stake in Veritone by 47.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 25,130 shares of the company’s stock worth $117,000 after buying an additional 8,130 shares in the last quarter. SummitTX Capital L.P. bought a new stake in Veritone during the 1st quarter valued at $26,000. Citizens Financial Group Inc. RI bought a new stake in Veritone during the 2nd quarter valued at $37,000. Two Sigma Securities LLC purchased a new position in shares of Veritone in the 2nd quarter valued at $38,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of 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 acquiring an additional 41,200 shares during the period. Hedge funds and other institutional investors own 39.18% of the company’s stock.
Veritone Company Profile
Veritone, Inc is an artificial intelligence software company that develops tools for managing, analyzing and deploying AI applications. Its principal platform, aiWARE, is designed to help organizations orchestrate multiple AI models and process large volumes of structured and unstructured data, including audio, video, images and text.
The company offers AI-powered solutions for industries such as media and entertainment, sports, government, legal and compliance, recruiting, and public safety.
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