Veritone, Inc. (NASDAQ:VERI) Receives Consensus Rating of “Hold” from Analysts

Veritone, Inc. (NASDAQ:VERI) has received a consensus rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.1250.

A number of research analysts recently issued reports on VERI shares. Needham & Company LLC lowered their target price on shares of Veritone to $5.00 and set a “buy” rating on the stock in a research note on Friday. Wall Street Zen raised shares of Veritone from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. UBS Group assumed coverage on shares of Veritone in a report on Monday, June 1st. They set a “neutral” rating and a $2.50 price target for the company. Finally, Weiss Ratings raised Veritone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday.

Veritone Stock Performance

VERI opened at $1.15 on Friday. The firm has a market cap of $106.89 million, a P/E ratio of -2.50 and a beta of 2.29. The business has a 50 day moving average price of $1.28 and a 200 day moving average price of $2.10. Veritone has a twelve month low of $0.98 and a twelve month high of $9.42.

Veritone (NASDAQ:VERI) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Veritone had a negative return on equity of 152.75% and a negative net margin of 112.56%.The company had revenue of $24.26 million for the quarter, compared to the consensus estimate of $28.29 million.

Institutional Trading of Veritone

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Veritone by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 480,842 shares of the company’s stock valued at $606,000 after buying an additional 19,597 shares during the last quarter. Vanguard Group Inc. increased its position in Veritone by 63.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company’s stock worth $13,275,000 after buying an additional 1,065,460 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Veritone during the third quarter worth approximately $82,000. Franklin Resources Inc. acquired a new position in shares of Veritone during the third quarter worth approximately $50,000. Finally, Marshall Wace LLP boosted its position in shares of Veritone by 16,314.3% in the third quarter. Marshall Wace LLP now owns 1,676,397 shares of the company’s stock valued at $8,080,000 after acquiring an additional 1,666,184 shares during the period. Institutional investors own 39.18% of the company’s stock.

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.