Veritone (NASDAQ:VERI) had its price target cut by Craig Hallum from $22.00 to $14.00 in a research report released on Wednesday, The Fly reports. They currently have a buy rating on the stock.

VERI has been the subject of a number of other research reports. Roth Capital dropped their target price on Veritone from $27.00 to $20.00 and set a buy rating for the company in a research report on Tuesday, August 14th. Zacks Investment Research downgraded Veritone from a buy rating to a hold rating in a research report on Wednesday, October 24th. BidaskClub downgraded Veritone from a hold rating to a sell rating in a research report on Wednesday, July 18th. B. Riley upgraded Veritone from a sell rating to a neutral rating and boosted their target price for the stock from $8.00 to $9.00 in a research report on Tuesday. Finally, DA Davidson dropped their target price on Veritone to $12.00 and set a buy rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Veritone presently has a consensus rating of Hold and a consensus price target of $14.88.

Shares of NASDAQ VERI traded down $0.03 during midday trading on Wednesday, hitting $5.84. 4,456 shares of the company’s stock were exchanged, compared to its average volume of 220,396. The firm has a market capitalization of $126.06 million, a price-to-earnings ratio of -1.27 and a beta of 1.26. Veritone has a 12-month low of $5.86 and a 12-month high of $29.62.

Veritone (NASDAQ:VERI) last released its earnings results on Monday, November 12th. The company reported ($0.86) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.78) by ($0.08). The firm had revenue of $7.55 million during the quarter, compared to the consensus estimate of $6.03 million. Veritone had a negative return on equity of 91.01% and a negative net margin of 286.28%. The business’s quarterly revenue was up 102.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.31) EPS. As a group, analysts anticipate that Veritone will post -3.28 EPS for the current year.

In other Veritone news, major shareholder Research Corp Acacia sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $10.50, for a total value of $10,500,000.00. Following the completion of the sale, the insider now owns 3,119,520 shares in the company, valued at $32,754,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Louis Graziadio III acquired 9,000 shares of the stock in a transaction on Friday, September 14th. The stock was bought at an average price of $10.37 per share, with a total value of $93,330.00. Following the transaction, the director now directly owns 98,308 shares of the company’s stock, valued at approximately $1,019,453.96. The disclosure for this purchase can be found here. Insiders purchased a total of 19,000 shares of company stock valued at $196,030 in the last 90 days. 37.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in VERI. Schwab Charles Investment Management Inc. bought a new stake in Veritone in the second quarter valued at approximately $194,000. GSA Capital Partners LLP bought a new position in shares of Veritone during the third quarter valued at approximately $266,000. UBS Group AG raised its holdings in shares of Veritone by 494.2% during the first quarter. UBS Group AG now owns 19,212 shares of the company’s stock valued at $267,000 after acquiring an additional 15,979 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Veritone during the third quarter valued at approximately $268,000. Finally, Jane Street Group LLC bought a new position in shares of Veritone during the second quarter valued at approximately $298,000. Hedge funds and other institutional investors own 17.14% of the company’s stock.

About Veritone

Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.

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