Veritone, Inc. (NASDAQ:VERI) Given Average Rating of “Moderate Buy” by Brokerages

Veritone, Inc. (NASDAQ:VERI) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.00.

Several research analysts have weighed in on VERI shares. Wall Street Zen upgraded Veritone from a “sell” rating to a “hold” rating in a report on Sunday, October 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Veritone in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a report on Wednesday, October 8th. D. Boral Capital reissued a “buy” rating and set a $23.00 target price on shares of Veritone in a research note on Tuesday, December 9th. Finally, HC Wainwright lifted their price target on shares of 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 3.0%

Shares of NASDAQ VERI opened at $4.79 on Monday. Veritone has a 52-week low of $1.22 and a 52-week high of $9.42. The company has a debt-to-equity ratio of 6.77, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market cap of $439.77 million, a P/E ratio of -7.15 and a beta of 2.03. The firm has a 50 day moving average price of $5.18 and a 200 day moving average price of $3.97.

Veritone (NASDAQ:VERI) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.09) earnings per share for the quarter, topping 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 analysts’ expectations of $28.69 million.

Hedge Funds Weigh In On Veritone

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Freedom Investment Management Inc. increased its position in Veritone by 6.3% during the second quarter. Freedom Investment Management Inc. now owns 117,572 shares of the company’s stock worth $148,000 after buying an additional 6,954 shares during the last quarter. Franklin Resources Inc. bought a new stake in Veritone in the 3rd quarter valued at $50,000. Sherbrooke Park Advisers LLC acquired a new stake in Veritone during the 3rd quarter valued at $80,000. Jefferies Financial Group Inc. bought a new position in Veritone during the third quarter worth $82,000. Finally, Geode Capital Management LLC increased its holdings in shares of Veritone by 4.2% in the second quarter. Geode Capital Management LLC now owns 480,842 shares of the company’s stock valued at $606,000 after purchasing an additional 19,597 shares during the last quarter. 39.18% of the stock is owned by institutional investors and hedge funds.

Veritone Company Profile

Veritone, Inc (NASDAQ: VERI) is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.