Veritone, Inc. (NASDAQ:VERI) Receives Average Recommendation of “Moderate Buy” from Brokerages

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

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a research report on Wednesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Veritone in a report on Tuesday, December 2nd. Wall Street Zen upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of Veritone in a research report on Tuesday, December 9th. Finally, HC Wainwright upped their price target on shares of Veritone from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, October 20th.

Veritone Price Performance

NASDAQ VERI opened at $3.52 on Friday. The company has a 50-day moving average price of $4.73 and a two-hundred day moving average price of $4.32. Veritone has a 52 week low of $1.22 and a 52 week high of $9.42. The stock has a market cap of $323.17 million, a price-to-earnings ratio of -5.25 and a beta of 2.03. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 6.77.

Veritone (NASDAQ:VERI) last issued its quarterly earnings data 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. Veritone had a negative return on equity of 361.72% and a negative net margin of 42.60%.The business had revenue of $29.12 million during the quarter, compared to the consensus estimate 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 VERI. Ground Swell Capital LLC bought a new stake in shares of Veritone in the 2nd quarter worth $27,000. Franklin Resources Inc. acquired a new position in Veritone during the third quarter worth about $50,000. Sherbrooke Park Advisers LLC bought a new stake in Veritone in the third quarter worth about $80,000. Jefferies Financial Group Inc. bought a new stake in Veritone in the third quarter worth about $82,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in Veritone in the 4th quarter valued at about $95,000. 39.18% of the stock is owned by 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.