Veritone, Inc. (VERI) Shares Gap Up to $46.20
Veritone, Inc. (NASDAQ:VERI)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $56.48, but opened at $46.20. Veritone shares last traded at $49.54, with a volume of 1,156,681 shares traded.
VERI has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Veritone from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, August 9th. B. Riley reaffirmed a “veri (” rating and set a $18.00 price target on shares of Veritone in a research note on Wednesday, August 9th. Northland Securities set a $19.00 price target on shares of Veritone and gave the stock a “buy” rating in a research note on Monday, August 28th. Craig Hallum initiated coverage on shares of Veritone in a research note on Tuesday, June 6th. They set a “buy” rating on the stock. Finally, Wunderlich initiated coverage on shares of Veritone in a research note on Tuesday, June 6th. They set a “buy” rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $16.44.
The company has a 50 day moving average of $15.74 and a 200-day moving average of $13.56. The firm’s market cap is $689.97 million.
Veritone (NASDAQ:VERI) last released its 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 company had revenue of $4.09 million during the quarter, compared to analysts’ expectations of $2.99 million. Equities research analysts anticipate that Veritone, Inc. will post ($5.37) earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Manatuck Hill Partners LLC acquired a new position in Veritone during the second quarter worth about $1,757,000. UBS Oconnor LLC acquired a new position in Veritone during the second quarter worth about $586,000. B. Riley Financial Inc. acquired a new position in Veritone during the second quarter worth about $2,022,000. Vanguard Group Inc. acquired a new position in Veritone during the second quarter worth about $132,000. Finally, Northern Trust Corp acquired a new position in Veritone during the second quarter worth about $269,000. 9.73% of the stock is currently owned by hedge funds and other institutional investors.
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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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