Veritone, Inc. (NASDAQ:VERI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Veritone, Inc. (NASDAQ:VERI) have been assigned an average rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $10.00.

Several research analysts have commented on the stock. Wall Street Zen raised shares of Veritone from a “sell” rating to a “hold” rating in a research note on Sunday, October 26th. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Veritone in a report on Tuesday. Weiss Ratings reissued a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, October 8th. D Boral Capital upgraded shares of Veritone to a “strong-buy” rating in a research report on Tuesday, September 2nd. Finally, HC Wainwright raised their price objective on Veritone from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, October 20th.

Veritone Stock Up 3.5%

VERI opened at $5.85 on Thursday. The business’s fifty day simple moving average is $5.45 and its 200 day simple moving average is $3.53. Veritone has a 52 week low of $1.22 and a 52 week high of $9.42. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 6.77. The stock has a market cap of $537.09 million, a PE ratio of -8.73 and a beta of 2.04.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. purchased a new position in shares of Veritone in the third quarter worth $50,000. Virtu Financial LLC purchased a new stake in Veritone during the 1st quarter valued at $30,000. Sherbrooke Park Advisers LLC bought a new stake in Veritone in the 3rd quarter worth $80,000. Jefferies Financial Group Inc. purchased a new position in shares of Veritone in the third quarter valued at about $82,000. Finally, Ground Swell Capital LLC bought a new position in shares of Veritone during the second quarter valued at about $27,000. 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.