Veritone (NASDAQ:VERI) Trading Up 7% – Still a Buy?

Veritone, Inc. (NASDAQ:VERI)’s share price was up 7% on Monday . The company traded as high as $5.62 and last traded at $5.5730. Approximately 1,587,883 shares were traded during trading, a decline of 48% from the average daily volume of 3,074,419 shares. The stock had previously closed at $5.21.

Analysts Set New Price Targets

VERI has been the subject of several recent analyst reports. D. Boral Capital restated a “buy” rating and issued a $23.00 price target on shares of Veritone in a report on Tuesday, December 2nd. D Boral Capital raised shares of Veritone to a “strong-buy” rating in a research report on Tuesday, September 2nd. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Veritone in a report on Tuesday, December 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Veritone in a report on Wednesday, October 8th. Finally, HC Wainwright raised their price target on shares of Veritone from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Veritone Price Performance

The stock has a market capitalization of $503.58 million, a price-to-earnings ratio of -8.19 and a beta of 2.05. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 6.77. The stock has a 50-day simple moving average of $5.39 and a 200 day simple moving average of $3.46.

Veritone (NASDAQ:VERI) last posted its earnings results on Thursday, November 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $29.12 million during the quarter, compared to the consensus estimate of $28.69 million. Veritone had a negative net margin of 42.60% and a negative return on equity of 361.72%.

Institutional Trading of Veritone

A number of large investors have recently bought and sold shares of the stock. Franklin Resources Inc. bought a new stake in Veritone during the third quarter worth about $50,000. Virtu Financial LLC acquired a new position in shares of Veritone during the 1st quarter worth about $30,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Veritone during the third quarter worth about $80,000. Jefferies Financial Group Inc. acquired a new position in shares of Veritone during the 3rd quarter worth about $82,000. Finally, Ground Swell Capital LLC acquired a new stake in Veritone during the 2nd quarter worth approximately $27,000. 39.18% of the stock is currently owned by institutional investors.

About Veritone

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.