Veritone, Inc. (NASDAQ:VERI) Given Consensus Rating of “Hold” by Brokerages

Shares of Veritone, Inc. (NASDAQ:VERI) have earned a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.3750.

A number of equities research analysts have recently issued reports on the stock. UBS Group started coverage on shares of Veritone in a research report on Monday, June 1st. They set a “neutral” rating and a $2.50 price target for the company. D. Boral Capital reiterated a “buy” rating and set a $8.00 target price on shares of Veritone in a research report on Wednesday, April 15th. Wall Street Zen cut shares of Veritone from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Weiss Ratings downgraded Veritone from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Veritone in a research note on Monday, March 30th.

Institutional Trading of Veritone

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Veritone by 63.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company’s stock valued at $13,275,000 after acquiring an additional 1,065,460 shares during the last quarter. Banta Asset Management LP purchased a new stake in Veritone in the fourth quarter valued at approximately $12,268,000. Cooper Creek Partners Management LLC purchased a new stake in Veritone in the third quarter valued at approximately $11,718,000. Marshall Wace LLP raised its stake in Veritone by 16,314.3% during the third quarter. Marshall Wace LLP now owns 1,676,397 shares of the company’s stock worth $8,080,000 after purchasing an additional 1,666,184 shares during the period. Finally, Geode Capital Management LLC raised its stake in Veritone by 81.4% during the fourth quarter. Geode Capital Management LLC now owns 984,749 shares of the company’s stock worth $4,581,000 after purchasing an additional 441,875 shares during the period. Hedge funds and other institutional investors own 39.18% of the company’s stock.

Veritone Trading Up 2.9%

Shares of VERI opened at $1.05 on Tuesday. The stock’s 50 day moving average is $1.59 and its two-hundred day moving average is $2.53. Veritone has a twelve month low of $0.99 and a twelve month high of $9.42. The firm has a market capitalization of $97.60 million, a PE ratio of -2.28 and a beta of 2.28.

About Veritone

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.