Veritone, Inc. (NASDAQ:VERI)’s share price traded up 18.6% during trading on Tuesday . The stock traded as high as $29.01 and last traded at $28.70. 686,478 shares changed hands during trading, an increase of 374% from the average session volume of 144,814 shares. The stock had previously closed at $24.20.

Several equities analysts recently commented on the stock. B. Riley reaffirmed a “veri (” rating and set a $18.00 price target on shares of Veritone in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Veritone from a “hold” rating to a “sell” rating in a research report on Friday, September 8th. Roth Capital assumed coverage on shares of Veritone in a research report on Friday, August 11th. They set a “buy” rating and a $13.20 price target for the company. Craig Hallum assumed coverage on shares of Veritone in a research report on Tuesday, June 6th. They set a “buy” rating for the company. Finally, Northland Securities set a $23.00 price target on shares of Veritone and gave the stock a “buy” rating in a research report on Sunday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $16.44.

The stock has a 50 day moving average of $12.39 and a 200-day moving average of $12.40. The firm’s market capitalization is $373.63 million.

Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Monday, August 7th. The company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.13). The firm had revenue of $4.09 million for the quarter, compared to analyst estimates of $2.99 million. Analysts predict that Veritone, Inc. will post ($5.37) EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Spark Investment Management LLC purchased a new stake in shares of Veritone in the second quarter worth approximately $126,000. Vanguard Group Inc. purchased a new stake in shares of Veritone in the second quarter worth approximately $132,000. Northern Trust Corp purchased a new stake in shares of Veritone in the second quarter worth approximately $269,000. Perkins Capital Management Inc. purchased a new stake in shares of Veritone in the second quarter worth approximately $498,000. Finally, White Pine Capital LLC purchased a new stake in shares of Veritone in the second quarter worth approximately $583,000. 9.73% of the stock is owned by institutional investors and hedge funds.

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About Veritone

Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.

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