Veritone, Inc. (NASDAQ:VERI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

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. “

Several other research firms have also commented on VERI. B. Riley reiterated a “veri (” rating and issued a $18.00 price target on shares of Veritone in a research report on Wednesday, August 9th. Northland Securities set a $19.00 price target on shares of Veritone and gave the company a “buy” rating in a research report on Monday, August 28th. Roth Capital reiterated a “buy” rating and issued a $62.00 price target (up from $13.20) on shares of Veritone in a research report on Friday, September 29th. Finally, Wunderlich reiterated a “buy” rating and issued a $18.00 price target on shares of Veritone in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $26.20.

Veritone (NASDAQ:VERI) traded down 2.27% during trading on Wednesday, reaching $40.90. The company had a trading volume of 195,052 shares. Veritone has a one year low of $7.76 and a one year high of $74.92. The company’s market capitalization is $611.74 million. The firm’s 50 day moving average is $32.16 and its 200 day moving average is $18.45.

Veritone (NASDAQ:VERI) last issued its earnings results on Monday, August 7th. The company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.13). The business had revenue of $4.09 million for the quarter, compared to the consensus estimate of $2.99 million. On average, equities research analysts predict that Veritone will post ($5.37) earnings per share for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. Spark Investment Management LLC acquired a new stake in shares of Veritone in the second quarter valued at approximately $126,000. Vanguard Group Inc. acquired a new stake in shares of Veritone in the second quarter valued at approximately $132,000. Northern Trust Corp acquired a new stake in shares of Veritone in the second quarter valued at approximately $269,000. Perkins Capital Management Inc. acquired a new stake in shares of Veritone in the second quarter valued at approximately $498,000. Finally, White Pine Capital LLC acquired a new stake in shares of Veritone in the second quarter valued at approximately $583,000. Institutional investors and hedge funds own 9.73% of the company’s stock.

About Veritone

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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