Needham & Company LLC Reaffirms Buy Rating for Veritone (NASDAQ:VERI)

Veritone (NASDAQ:VERI)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $10.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 83.15% from the company’s current price.

Other research analysts have also issued reports about the stock. D. Boral Capital restated a “buy” rating and issued a $23.00 price objective on shares of Veritone in a research note on Tuesday. Wall Street Zen raised shares of Veritone from a “sell” rating to a “hold” rating in a report on Sunday, October 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Veritone in a report on Wednesday, October 8th. HC Wainwright increased their price target on Veritone from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, D Boral Capital raised Veritone to a “strong-buy” rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Veritone currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Veritone Price Performance

Shares of NASDAQ VERI opened at $5.46 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 6.77. Veritone has a twelve month low of $1.22 and a twelve month high of $9.42. The stock has a 50 day moving average of $5.39 and a two-hundred day moving average of $3.40. The stock has a market cap of $501.28 million, a P/E ratio of -8.15 and a beta of 2.04.

Veritone (NASDAQ:VERI) last announced its earnings results on Thursday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $29.12 million for the quarter, compared to analyst estimates of $28.69 million. Veritone had a negative net margin of 42.60% and a negative return on equity of 361.72%.

Institutional Trading of Veritone

A number of institutional investors have recently modified their holdings of VERI. Ground Swell Capital LLC acquired a new stake in Veritone during the 2nd quarter worth approximately $27,000. Virtu Financial LLC acquired a new position in Veritone during the first quarter valued at approximately $30,000. Franklin Resources Inc. purchased a new stake in Veritone during the third quarter worth approximately $50,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Veritone in the third quarter worth $80,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Veritone in the third quarter worth $82,000. Hedge funds and other institutional investors own 39.18% of the company’s stock.

Veritone Company Profile

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.