Veritone, Inc.’s (VERI) Lock-Up Period Set To Expire on November 8th
Veritone’s (NASDAQ:VERI) lock-up period is set to expire on Wednesday, November 8th. Veritone had issued 2,500,000 shares in its initial public offering on May 12th. The total size of the offering was $37,500,000 based on an initial share price of $15.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
VERI has been the subject of several research reports. Zacks Investment Research upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. Roth Capital restated a “buy” rating and issued a $62.00 price objective (up previously from $13.20) on shares of Veritone in a research report on Friday, September 29th. Northland Securities set a $23.00 price objective on shares of Veritone and gave the company a “buy” rating in a research report on Sunday, September 10th. Finally, B. Riley restated a “buy” rating and issued a $18.00 price objective on shares of Veritone in a research report on Friday, August 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $26.20.
Veritone (NASDAQ:VERI) traded down 2.85% during midday trading on Wednesday, reaching $34.49. 103,192 shares of the company’s stock traded hands. The company’s market cap is $515.87 million. The stock has a 50-day moving average of $40.32 and a 200 day moving average of $20.63. Veritone has a 52-week low of $7.76 and a 52-week high of $74.92.
Veritone (NASDAQ:VERI) last posted its earnings results on Monday, August 7th. The company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.13). The firm had revenue of $4.09 million for the quarter, compared to analysts’ expectations of $2.99 million. On average, analysts anticipate that Veritone will post ($5.37) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Spark Investment Management LLC bought a new position in shares of Veritone in the second quarter worth about $126,000. Vanguard Group Inc. bought a new position in shares of Veritone in the second quarter worth about $132,000. Northern Trust Corp bought a new position in shares of Veritone in the second quarter worth about $269,000. Perkins Capital Management Inc. bought a new position in shares of Veritone in the second quarter worth about $498,000. Finally, White Pine Capital LLC bought a new position in shares of Veritone in the second quarter worth about $583,000. 8.59% of the stock is owned by hedge funds and other 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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