Veritone, Inc. (NASDAQ:VERI) Receives $10.00 Consensus PT from Brokerages

Veritone, Inc. (NASDAQ:VERI) has received an average rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $10.00.

Several research analysts have recently commented on VERI shares. 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. Wall Street Zen upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. D. Boral Capital reissued a “buy” rating and issued a $23.00 price target on shares of Veritone in a research note on Tuesday, December 9th. HC Wainwright increased their price target on shares of Veritone from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veritone in a report on Wednesday, October 8th.

Institutional Investors Weigh In On Veritone

Hedge funds have recently added to or reduced their stakes in the company. Connective Capital Management LLC bought a new stake in Veritone in the 2nd quarter worth approximately $657,000. Freedom Investment Management Inc. grew its position in Veritone by 6.3% during the second quarter. Freedom Investment Management Inc. now owns 117,572 shares of the company’s stock valued at $148,000 after acquiring an additional 6,954 shares during the last quarter. Ground Swell Capital LLC purchased a new position in shares of Veritone during the second quarter worth approximately $27,000. XTX Topco Ltd bought a new stake in shares of Veritone in the 3rd quarter worth approximately $702,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Veritone by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 480,842 shares of the company’s stock worth $606,000 after acquiring an additional 19,597 shares during the last quarter. Institutional investors own 39.18% of the company’s stock.

Veritone Trading Down 2.3%

Veritone stock opened at $4.69 on Monday. The company has a debt-to-equity ratio of 6.77, a quick ratio of 1.31 and a current ratio of 1.31. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $9.42. The stock has a market cap of $430.57 million, a P/E ratio of -7.00 and a beta of 2.03. The firm’s fifty day moving average price is $5.01 and its 200-day moving average price is $4.09.

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

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.