Veritone (NASDAQ:VERI) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Veritone (NASDAQ:VERI) from a strong sell rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other research firms have also recently issued reports on VERI. UBS Group initiated coverage on Veritone in a report on Monday, June 1st. They set a “neutral” rating and a $2.50 price objective for the company. Weiss Ratings lowered Veritone from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 15th. Finally, 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. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.38.

Veritone Stock Performance

VERI opened at $1.09 on Friday. The stock’s 50 day moving average price is $1.42 and its 200-day moving average price is $2.31. Veritone has a one year low of $0.98 and a one year high of $9.42. The stock has a market cap of $101.32 million, a price-to-earnings ratio of -2.37 and a beta of 2.28.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Banta Asset Management LP bought a new position in shares of Veritone during the fourth quarter valued at approximately $12,268,000. Cooper Creek Partners Management LLC bought a new position in Veritone in the third quarter worth approximately $11,718,000. Marshall Wace LLP raised its stake in Veritone by 16,314.3% in the third quarter. Marshall Wace LLP now owns 1,676,397 shares of the company’s stock worth $8,080,000 after buying an additional 1,666,184 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Veritone by 63.1% during the third quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company’s stock worth $13,275,000 after buying an additional 1,065,460 shares during the period. Finally, Themes Management Co LLC purchased a new stake in Veritone during the fourth quarter worth $2,750,000. 39.18% of the stock is currently owned by hedge funds and other institutional investors.

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.