Brokerages Set Veritone, Inc. (NASDAQ:VERI) Target Price at $7.38

Veritone, Inc. (NASDAQ:VERI) has earned an average rating of “Hold” from the five analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $7.3750.

Several analysts have commented on VERI shares. Weiss Ratings downgraded Veritone from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 15th. D. Boral Capital reissued a “buy” rating and issued a $8.00 target price on shares of Veritone in a report on Wednesday, April 15th. Wall Street Zen cut Veritone from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. UBS Group assumed coverage on Veritone in a research note on Monday, June 1st. They set a “neutral” rating and a $2.50 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Veritone in a research report on Monday, March 30th.

Veritone Stock Performance

Shares of VERI opened at $1.04 on Tuesday. Veritone has a fifty-two week low of $0.99 and a fifty-two week high of $9.42. The company has a market capitalization of $96.67 million, a price-to-earnings ratio of -2.26 and a beta of 2.28. The firm has a 50-day simple moving average of $1.52 and a 200-day simple moving average of $2.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Veritone during the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC increased its stake in Veritone by 17.3% in the 4th quarter. Farther Finance Advisors LLC now owns 44,090 shares of the company’s stock valued at $205,000 after purchasing an additional 6,500 shares in the last quarter. Vanguard Capital Wealth Advisors raised its holdings in Veritone by 11.0% during the fourth quarter. Vanguard Capital Wealth Advisors now owns 71,450 shares of the company’s stock worth $332,000 after purchasing an additional 7,100 shares during the last quarter. Franklin Resources Inc. raised its holdings in Veritone by 78.3% during the fourth quarter. Franklin Resources Inc. now owns 18,325 shares of the company’s stock worth $85,000 after purchasing an additional 8,045 shares during the last quarter. Finally, Jefferies Financial Group Inc. boosted its position in Veritone by 47.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 25,130 shares of the company’s stock worth $117,000 after purchasing an additional 8,130 shares in the last quarter. 39.18% of the stock is currently 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.