Zacks Investment Research Lowers Veritone, Inc. (VERI) to Sell
Veritone, Inc. (NASDAQ:VERI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
According to Zacks, “Veritone, Inc. is an artificial intelligence company. It developed the Veritone Platform, which unlocks the power of AI-based cognitive computing to transform and analyze unstructured public and private audio and video data for clients in the media, politics, legal and law enforcement industries. Veritone, Inc. is based in Newport Beach, United States. “
Other research analysts also recently issued research reports about the company. Northland Securities set a $19.00 price objective on Veritone and gave the stock a “buy” rating in a research note on Monday, August 28th. Wunderlich started coverage on Veritone in a research note on Tuesday, June 6th. They issued a “buy” rating and a $18.00 price objective on the stock. Craig Hallum started coverage on Veritone in a research note on Tuesday, June 6th. They issued a “buy” rating on the stock. Roth Capital started coverage on Veritone in a research note on Friday, August 11th. They issued a “buy” rating and a $13.20 price objective on the stock. Finally, B. Riley reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Veritone in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $15.64.
Shares of Veritone (NASDAQ VERI) opened at 17.43 on Friday. The company’s market capitalization is $260.70 million. Veritone has a 12 month low of $7.76 and a 12 month high of $17.72. The stock’s 50 day moving average price is $11.18 and its 200 day moving average price is $11.95.
Veritone (NASDAQ:VERI) last posted its quarterly earnings data on Monday, August 7th. The company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.20) by $0.13. The firm had revenue of $4.09 million during the quarter, compared to analysts’ expectations of $2.99 million. On average, analysts forecast that Veritone will post ($5.37) EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of the stock. Spark Investment Management LLC bought a new stake in Veritone during the 2nd quarter valued at approximately $126,000. Vanguard Group Inc. bought a new stake in Veritone during the 2nd quarter valued at approximately $132,000. Northern Trust Corp bought a new stake in Veritone during the 2nd quarter valued at approximately $269,000. Perkins Capital Management Inc. bought a new stake in Veritone during the 2nd quarter valued at approximately $498,000. Finally, White Pine Capital LLC bought a new stake in Veritone during the 2nd quarter valued at approximately $583,000. 9.73% of the stock is currently owned by institutional investors.
Veritone Company Profile
Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.
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