D. Boral Capital Reiterates Buy Rating for Veritone (NASDAQ:VERI)

Veritone (NASDAQ:VERI)‘s stock had its “buy” rating reissued by research analysts at D. Boral Capital in a report released on Tuesday,Benzinga reports. They currently have a $23.00 target price on the stock. D. Boral Capital’s target price would indicate a potential upside of 293.16% from the company’s current price.

Other analysts also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Veritone in a report on Tuesday, December 2nd. Wall Street Zen raised Veritone from a “sell” rating to a “hold” rating in a research note on Sunday, October 26th. HC Wainwright lifted their target price on Veritone from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Veritone in a report on Wednesday, October 8th. Finally, D Boral Capital upgraded shares of Veritone to a “strong-buy” rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Veritone presently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Veritone Stock Performance

NASDAQ:VERI opened at $5.85 on Tuesday. The company has a debt-to-equity ratio of 6.77, a quick ratio of 1.31 and a current ratio of 1.31. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $9.42. The company has a 50 day simple moving average of $5.45 and a two-hundred day simple moving average of $3.53. The company has a market capitalization of $537.09 million, a PE ratio of -8.73 and a beta of 2.04.

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

Institutional Investors Weigh In On Veritone

Several institutional investors and hedge funds have recently added to or reduced their stakes in VERI. Franklin Resources Inc. bought a new position in shares of Veritone during the 3rd quarter worth approximately $50,000. Virtu Financial LLC purchased a new stake in shares of Veritone during the first quarter valued at approximately $30,000. Sherbrooke Park Advisers LLC bought a new stake in Veritone during the third quarter worth $80,000. Jefferies Financial Group Inc. bought a new stake in Veritone during the third quarter worth $82,000. Finally, Ground Swell Capital LLC purchased a new position in Veritone in the second quarter valued at about $27,000. Hedge funds and other institutional investors own 39.18% of the company’s stock.

About Veritone

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.