Analysts Set Veritone, Inc. (NASDAQ:VERI) Price Target at $10.00

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

Several analysts recently commented on the stock. D. Boral Capital reissued a “buy” rating and set a $23.00 price objective on shares of Veritone in a research report on Tuesday, December 9th. Wall Street Zen upgraded shares of Veritone from a “sell” rating to a “hold” rating in a report on Sunday, October 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Veritone in a research report on Wednesday, October 8th. HC Wainwright upped their price objective on Veritone from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Veritone in a research note on Tuesday, December 2nd.

Institutional Investors Weigh In On Veritone

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its position in Veritone by 398.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 30,122 shares of the company’s stock worth $145,000 after buying an additional 24,084 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Veritone in the third quarter worth approximately $702,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Veritone during the third quarter valued at approximately $80,000. Bank of America Corp DE lifted its position in Veritone by 195.7% during the third quarter. Bank of America Corp DE now owns 37,982 shares of the company’s stock valued at $183,000 after purchasing an additional 25,137 shares during the period. Finally, Virtu Financial LLC bought a new position in Veritone during the third quarter valued at approximately $484,000. 39.18% of the stock is currently owned by institutional investors.

Veritone Stock Performance

Veritone stock opened at $4.69 on Monday. Veritone has a twelve month low of $1.22 and a twelve month high of $9.42. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 6.77. The company has a market capitalization of $430.59 million, a P/E ratio of -7.00 and a beta of 2.03. The stock’s 50 day moving average is $5.01 and its 200 day moving average is $4.05.

Veritone (NASDAQ:VERI) last released its earnings results on Thursday, November 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Veritone had a negative return on equity of 361.72% and a negative net margin of 42.60%.The business had revenue of $29.12 million for the quarter, compared to the consensus estimate of $28.69 million.

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.