Veritone, Inc. (NASDAQ:VERI)’s share price shot up 12.1% during trading on Monday . The company traded as high as $49.50 and last traded at $50.93. 1,292,966 shares changed hands during mid-day trading, an increase of 466% from the average session volume of 228,252 shares. The stock had previously closed at $45.45.

Several analysts have recently weighed in on the stock. Roth Capital restated a “buy” rating and set a $62.00 price objective (up previously from $13.20) on shares of Veritone in a research report on Friday, September 29th. Zacks Investment Research upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. Northland Securities set a $23.00 target price on shares of Veritone and gave the stock a “buy” rating in a research report on Sunday, September 10th. Finally, B. Riley reissued a “veri (” rating and issued a $18.00 target price on shares of Veritone in a research note on Monday, August 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Veritone presently has an average rating of “Buy” and an average price target of $26.20.

The stock has a 50 day moving average of $27.67 and a 200 day moving average of $17.33. The stock’s market capitalization is $698.19 million.

Veritone (NASDAQ:VERI) last issued its quarterly earnings data on Monday, August 7th. The company reported ($1.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.20) by ($0.13). The firm had revenue of $4.09 million during the quarter, compared to analysts’ expectations of $2.99 million. On average, equities research analysts expect that Veritone, Inc. will post ($4.89) EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Spark Investment Management LLC bought a new position in shares of Veritone during the 2nd quarter valued at approximately $126,000. Vanguard Group Inc. purchased a new position in shares of Veritone in the second quarter valued at $132,000. Northern Trust Corp bought a new stake in Veritone in the second quarter worth $269,000. Perkins Capital Management Inc. bought a new stake in Veritone in the second quarter worth $498,000. Finally, White Pine Capital LLC bought a new stake in Veritone in the second quarter worth $583,000. 9.73% of the stock is currently owned by institutional investors and hedge funds.

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Veritone Company Profile

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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