Veritone (NASDAQ:VERI) Earns Buy Rating from D. Boral Capital

Veritone (NASDAQ:VERI)‘s stock had its “buy” rating reaffirmed by stock analysts at D. Boral Capital in a report released on Tuesday,Benzinga reports. They currently have a $23.00 price objective on the stock.

Other analysts have also issued reports about the company. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of Veritone in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Veritone Trading Up 3.2%

Shares of NASDAQ:VERI opened at $2.93 on Tuesday. The business’s 50 day simple moving average is $3.83 and its 200 day simple moving average is $4.46. Veritone has a 1 year low of $1.22 and a 1 year high of $9.42. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $269.00 million, a P/E ratio of -4.37 and a beta of 2.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Connective Capital Management LLC bought a new stake in Veritone during the second quarter worth $657,000. Geode Capital Management LLC grew its stake in Veritone by 81.4% in the 4th quarter. Geode Capital Management LLC now owns 984,749 shares of the company’s stock valued at $4,581,000 after purchasing an additional 441,875 shares during the period. XTX Topco Ltd purchased a new stake in shares of Veritone during the 3rd quarter valued at $702,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Veritone during the 3rd quarter worth $80,000. Finally, Bank of America Corp DE boosted its holdings in shares of Veritone by 195.7% in the 3rd quarter. Bank of America Corp DE now owns 37,982 shares of the company’s stock worth $183,000 after buying an additional 25,137 shares during the last quarter. 39.18% of the stock is currently owned by hedge funds and other institutional investors.

About Veritone

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.