HC Wainwright Reiterates “Buy” Rating for Veritone (NASDAQ:VERI)

Veritone (NASDAQ:VERI)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $9.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 356.85% from the company’s current price.

Several other analysts have also recently issued reports on the company. Wall Street Zen cut Veritone from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Veritone in a research report on Wednesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Veritone in a research note on Tuesday, December 2nd. Finally, D. Boral Capital reiterated a “buy” rating and set a $14.00 price objective on shares of Veritone in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.75.

Veritone Price Performance

NASDAQ:VERI opened at $1.97 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 6.77. The company has a market capitalization of $180.87 million, a P/E ratio of -2.94 and a beta of 2.16. Veritone has a 12 month low of $1.22 and a 12 month high of $9.42. The business’s 50-day moving average is $3.07 and its 200 day moving average is $4.44.

Hedge Funds Weigh In On Veritone

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Wyoming bought a new position in shares of Veritone during the 4th quarter valued at approximately $25,000. Franklin Resources Inc. bought a new stake in Veritone in the third quarter worth $50,000. Sherbrooke Park Advisers LLC purchased a new position in Veritone during the third quarter worth $80,000. Jefferies Financial Group Inc. purchased a new position in Veritone during the third quarter worth $82,000. Finally, EntryPoint Capital LLC bought a new position in Veritone during the fourth quarter valued at $84,000. Hedge funds and other institutional investors own 39.18% of the company’s stock.

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.