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

Veritone (NASDAQ:VERI)‘s stock had its “buy” rating reiterated by research analysts at D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They presently have a $23.00 price target on the stock. D. Boral Capital’s target price would suggest a potential upside of 314.34% from the stock’s previous close.

VERI has been the subject of several other reports. HC Wainwright raised their target price on Veritone from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Veritone in a research note on Tuesday, December 2nd. D Boral Capital raised shares of Veritone to a “strong-buy” rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen upgraded shares of Veritone from a “sell” rating to a “hold” rating in a report on Sunday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Veritone currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Veritone Trading Up 0.2%

VERI traded up $0.01 during trading on Tuesday, reaching $5.55. 761,653 shares of the company’s stock were exchanged, compared to its average volume of 3,071,228. Veritone has a one year low of $1.22 and a one year high of $9.42. 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 stock has a market capitalization of $509.64 million, a PE ratio of -8.22 and a beta of 2.05. The firm has a fifty day moving average price of $5.41 and a two-hundred day moving average price of $3.49.

Veritone (NASDAQ:VERI) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The firm had revenue of $29.12 million during the quarter, compared to the consensus estimate of $28.69 million. Veritone had a negative net margin of 42.60% and a negative return on equity of 361.72%.

Hedge Funds Weigh In On Veritone

Several institutional investors have recently added to or reduced their stakes in the business. Ground Swell Capital LLC bought a new position in shares of Veritone during the 2nd quarter worth approximately $27,000. Virtu Financial LLC acquired a new position in shares of Veritone during the 1st quarter valued at $30,000. Franklin Resources Inc. acquired a new position in shares of Veritone during the 3rd quarter valued at $50,000. Sherbrooke Park Advisers LLC bought a new position in Veritone during the third quarter worth $80,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Veritone in the third quarter worth $82,000. 39.18% of the stock is owned by institutional investors and hedge funds.

About Veritone

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.