Veritone (NASDAQ:VERI) Shares Pass Below Fifty Day Moving Average – What’s Next?

Veritone, Inc. (NASDAQ:VERI)’s stock price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.27 and traded as low as $1.93. Veritone shares last traded at $1.94, with a volume of 1,967,904 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VERI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a report on Wednesday, January 21st. D. Boral Capital reiterated a “buy” rating and issued a $8.00 price objective on shares of Veritone in a report on Wednesday, April 15th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Veritone in a report on Monday, March 30th. Finally, Wall Street Zen cut Veritone from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Veritone presently has an average rating of “Moderate Buy” and an average target price of $9.00.

Veritone Stock Performance

The stock’s 50 day simple moving average is $2.27 and its two-hundred day simple moving average is $3.63. The firm has a market capitalization of $180.34 million, a PE ratio of -3.23 and a beta of 2.25.

Veritone (NASDAQ:VERI) last released its earnings results on Wednesday, April 15th. The company reported $999.00 earnings per share for the quarter. Veritone had a negative net margin of 117.88% and a negative return on equity of 198.79%. Equities research analysts expect that Veritone, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of Veritone

Several institutional investors have recently made changes to their positions in VERI. Geode Capital Management LLC raised its position in shares of Veritone by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 480,842 shares of the company’s stock valued at $606,000 after buying an additional 19,597 shares during the period. Wesbanco Bank Inc. purchased a new stake in shares of Veritone during the 3rd quarter valued at approximately $241,000. Vanguard Group Inc. raised its position 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 buying an additional 1,065,460 shares during the period. Royce & Associates LP purchased a new stake in shares of Veritone during the 3rd quarter valued at approximately $2,603,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Veritone during the 3rd quarter valued at approximately $82,000. Hedge funds and other institutional investors own 39.18% of the company’s stock.

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.