Veritone, Inc. (NASDAQ:VERI) Given Average Recommendation of “Hold” by Analysts

Shares of Veritone, Inc. (NASDAQ:VERI) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.1250.

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Veritone from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. UBS Group started coverage on Veritone in a research note on Monday, June 1st. They issued a “neutral” rating and a $2.50 price target for the company. Needham & Company LLC reduced their target price on Veritone to $5.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, Weiss Ratings upgraded Veritone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th.

Veritone Trading Up 1.9%

VERI stock opened at $0.86 on Friday. The firm has a 50 day simple moving average of $1.22 and a 200-day simple moving average of $2.00. The company has a market capitalization of $86.46 million, a P/E ratio of -2.26 and a beta of 2.29. Veritone has a twelve month low of $0.80 and a twelve month high of $9.42.

Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $24.26 million for the quarter, compared to analysts’ expectations of $28.29 million. Veritone had a negative net margin of 111.90% and a negative return on equity of 159.15%.

Hedge Funds Weigh In On Veritone

A number of hedge funds have recently added to or reduced their stakes in the business. Banta Asset Management LP acquired a new stake in shares of Veritone during the fourth quarter worth $12,268,000. Themes Management Co LLC acquired a new position in shares of Veritone in the 4th quarter valued at about $2,750,000. Royce & Associates LP boosted its holdings in shares of Veritone by 60.4% in the 4th quarter. Royce & Associates LP now owns 866,000 shares of the company’s stock valued at $4,027,000 after buying an additional 326,000 shares during the period. Perkins Capital Management Inc. acquired a new position in shares of Veritone in the 4th quarter valued at about $817,000. Finally, Farther Finance Advisors LLC grew its position in shares of Veritone by 17.3% during the 4th quarter. Farther Finance Advisors LLC now owns 44,090 shares of the company’s stock valued at $205,000 after buying an additional 6,500 shares during the last quarter. Institutional investors and hedge funds own 39.18% of the company’s stock.

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.