B. Riley Reaffirms “Sell” Rating for Veritone, Inc. (VERI)
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Veritone from a hold rating to a buy rating and set a $10.00 target price on the stock in a report on Wednesday, August 9th. Northland Securities set a $19.00 target price on Veritone and gave the company a buy rating in a report on Wednesday, July 19th. Finally, Roth Capital started coverage on Veritone in a research note on Friday, August 11th. They issued a buy rating and a $13.20 price target for the company. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $25.60.
Shares of Veritone (VERI) opened at $24.42 on Wednesday. Veritone has a twelve month low of $7.76 and a twelve month high of $74.92.
Veritone (NASDAQ:VERI) last issued its earnings results on Monday, November 6th. The company reported ($1.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.88). The business had revenue of $3.72 million during the quarter, compared to analyst estimates of $4.95 million. Veritone had a negative net margin of 416.28% and a negative return on equity of 1,887.29%. The company’s revenue for the quarter was up 60.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($3.49) EPS. research analysts forecast that Veritone will post -5.22 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Spark Investment Management LLC bought a new position in shares of Veritone in the 2nd quarter valued at $126,000. Vanguard Group Inc. bought a new position in shares of Veritone in the 2nd quarter valued at $132,000. SG Americas Securities LLC bought a new position in shares of Veritone in the 3rd quarter valued at $132,000. Schwab Charles Investment Management Inc. bought a new position in shares of Veritone in the 3rd quarter valued at $205,000. Finally, Quantbot Technologies LP bought a new position in shares of Veritone in the 3rd quarter valued at $263,000. Institutional investors own 8.43% of the company’s stock.
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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