D. Boral Capital Reiterates “Buy” Rating for Veritone (NASDAQ:VERI)

Veritone (NASDAQ:VERI)‘s stock had its “buy” rating reissued by equities researchers at D. Boral Capital in a note issued to investors on Friday,Benzinga reports. They currently have a $23.00 target price on the stock.

A number of other brokerages have also recently weighed in on VERI. HC Wainwright upped their price target on Veritone from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of Veritone in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Veritone currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Veritone Price Performance

NASDAQ:VERI opened at $3.52 on Friday. The company has a debt-to-equity ratio of 6.77, a quick ratio of 1.31 and a current ratio of 1.31. The company has a 50-day moving average of $4.73 and a 200-day moving average of $4.32. Veritone has a 52 week low of $1.22 and a 52 week high of $9.42. The company has a market capitalization of $323.17 million, a price-to-earnings ratio of -5.25 and a beta of 2.03.

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

Institutional Trading of Veritone

Large investors have recently made changes to their positions in the company. Connective Capital Management LLC acquired a new position in shares of Veritone in the 2nd quarter valued at approximately $657,000. Freedom Investment Management Inc. lifted its stake in Veritone by 6.3% in the second quarter. Freedom Investment Management Inc. now owns 117,572 shares of the company’s stock valued at $148,000 after buying an additional 6,954 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Veritone during the second quarter worth $27,000. Vanguard Capital Wealth Advisors lifted its position in Veritone by 11.0% in the 4th quarter. Vanguard Capital Wealth Advisors now owns 71,450 shares of the company’s stock valued at $332,000 after acquiring an additional 7,100 shares in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new position in Veritone in the 4th quarter worth $95,000. Institutional investors own 39.18% of the company’s stock.

About Veritone

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.