Wall Street Zen Downgrades Veritone (NASDAQ:VERI) to Sell

Veritone (NASDAQ:VERI) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also recently commented on VERI. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, January 21st. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 price target on shares of Veritone in a report on Tuesday, March 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Veritone in a report on Tuesday, December 2nd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Veritone presently has a consensus rating of “Hold” and an average target price of $11.00.

Veritone Trading Down 0.7%

VERI opened at $2.71 on Friday. The company has a fifty day moving average price of $3.37 and a two-hundred day moving average price of $4.49. Veritone has a 1-year low of $1.22 and a 1-year high of $9.42. 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 company has a market cap of $248.81 million, a P/E ratio of -4.04 and a beta of 2.16.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Veritone by 63.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company’s stock valued at $13,275,000 after purchasing an additional 1,065,460 shares during the last quarter. Banta Asset Management LP purchased a new position in shares of Veritone in the fourth quarter valued at about $12,268,000. Cooper Creek Partners Management LLC bought a new stake in shares of Veritone in the 3rd quarter worth approximately $11,718,000. Marshall Wace LLP lifted its stake in Veritone by 16,314.3% in the third quarter. Marshall Wace LLP now owns 1,676,397 shares of the company’s stock worth $8,080,000 after acquiring an additional 1,666,184 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Veritone by 81.4% in the 4th quarter. Geode Capital Management LLC now owns 984,749 shares of the company’s stock worth $4,581,000 after purchasing an additional 441,875 shares in the last quarter. Institutional investors own 39.18% of the company’s stock.

Veritone Company Profile

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.