Veritone (VERI) Lifted to “Hold” at Zacks Investment Research
Veritone (NASDAQ:VERI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.
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 equities analysts have also recently commented on VERI. B. Riley restated a “veri (” rating and set a $18.00 target price on shares of Veritone in a research report on Wednesday, August 9th. Roth Capital assumed coverage on Veritone in a research report on Friday, August 11th. They set a “buy” rating and a $13.20 target price for the company. Craig Hallum set a $31.00 target price on Veritone and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Finally, Northland Securities set a $23.00 target price on Veritone and gave the stock a “buy” rating in a research report on Sunday, September 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.50.
Veritone (NASDAQ:VERI) last posted its earnings results on Monday, November 6th. The company reported ($1.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.88). Veritone had a negative return on equity of 1,887.29% and a negative net margin of 416.28%. The business had revenue of $3.72 million for the quarter, compared to analysts’ expectations of $4.95 million. During the same quarter in the previous year, the firm earned ($3.49) earnings per share. Veritone’s quarterly revenue was up 60.3% compared to the same quarter last year. research analysts expect that Veritone will post -5.8 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. White Pine Capital LLC purchased a new position in Veritone during the second quarter worth about $583,000. Unterberg Capital LLC purchased a new position in shares of Veritone in the 2nd quarter worth about $937,000. Uniplan Investment Counsel Inc. purchased a new position in shares of Veritone in the 2nd quarter worth about $5,740,000. B. Riley Financial Inc. purchased a new position in shares of Veritone in the 2nd quarter worth about $2,022,000. Finally, Spark Investment Management LLC purchased a new position in shares of Veritone in the 2nd quarter worth about $126,000. Institutional investors and hedge funds own 5.72% of the company’s stock.
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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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