Veritone (NASDAQ:VERI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Veritone (NASDAQ:VERI) from a sell rating to a hold rating in a report released on Sunday.

Several other analysts have also recently commented on VERI. D. Boral Capital restated a “buy” rating on shares of Veritone in a research note on Wednesday, October 15th. HC Wainwright raised their target price 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. Needham & Company LLC initiated coverage on shares of Veritone in a research note on Thursday, October 23rd. They issued a “buy” rating and a $10.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, October 8th. Finally, D Boral Capital upgraded shares of Veritone to a “strong-buy” rating in a research note on Tuesday, September 2nd. 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 given a Sell rating to the company. According to data from MarketBeat.com, Veritone has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Veritone Trading Down 8.6%

Shares of Veritone stock opened at $6.67 on Friday. Veritone has a 1 year low of $1.22 and a 1 year high of $9.42. The company has a debt-to-equity ratio of 89.57, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $394.66 million, a P/E ratio of -8.04 and a beta of 3.23. The company’s fifty day moving average is $4.60 and its two-hundred day moving average is $2.85.

Institutional Trading of Veritone

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Connective Capital Management LLC acquired a new stake in shares of Veritone in the second quarter valued at about $657,000. Geode Capital Management LLC grew its position in shares of Veritone by 4.2% in the second quarter. Geode Capital Management LLC now owns 480,842 shares of the company’s stock valued at $606,000 after purchasing an additional 19,597 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Veritone in the first quarter valued at approximately $315,000. Freedom Investment Management Inc. grew its position in shares of Veritone by 6.3% in the second quarter. Freedom Investment Management Inc. now owns 117,572 shares of the company’s stock valued at $148,000 after purchasing an additional 6,954 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Veritone in the first quarter valued at approximately $102,000. Institutional investors and hedge funds own 39.18% of the company’s stock.

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.