Veritone, Inc. (VERI) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Veritone, Inc. (NASDAQ:VERI) have been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $30.25.
VERI has been the topic of a number of analyst reports. Northland Securities set a $19.00 target price on Veritone and gave the company a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research raised shares of Veritone from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, August 9th. B. Riley reaffirmed a “buy” rating and issued a $18.00 price target on shares of Veritone in a research note on Friday, August 4th. Finally, Roth Capital began coverage on shares of Veritone in a research note on Friday, August 11th. They issued a “buy” rating and a $13.20 price target on the stock.
Veritone (VERI) opened at 41.04 on Wednesday. The stock’s market capitalization is $613.84 million. Veritone has a 52-week low of $7.76 and a 52-week high of $74.92. The company’s 50-day moving average price is $37.81 and its 200 day moving average price is $19.91.
Veritone (NASDAQ:VERI) last posted its earnings results on Monday, August 7th. The company reported ($1.33) EPS for the quarter, missing the Zacks’ 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, equities research analysts predict that Veritone will post ($5.37) earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in VERI. White Pine Capital LLC acquired a new stake in Veritone in the 2nd quarter valued at approximately $583,000. Unterberg Capital LLC acquired a new stake in Veritone in the 2nd quarter valued at approximately $937,000. Perkins Capital Management Inc. acquired a new stake in Veritone in the 2nd quarter valued at approximately $498,000. Uniplan Investment Counsel Inc. acquired a new stake in Veritone in the 2nd quarter valued at approximately $5,740,000. Finally, B. Riley Financial Inc. acquired a new stake in Veritone in the 2nd quarter valued at approximately $2,022,000. 9.74% of the stock is currently owned by hedge funds and other institutional investors.
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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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