Veritone (NASDAQ:VERI – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.
According to Zacks, “Veritone, Inc. is an artificial intelligence company. It developed the Veritone Platform, which unlocks the power of AI-based cognitive computing to transform and analyze unstructured public and private audio and video data for clients in the media, politics, legal and law enforcement industries. Veritone, Inc. is based in Newport Beach, United States. “
VERI has been the subject of a number of other research reports. Bank of America began coverage on Veritone in a research note on Wednesday, February 9th. They issued a “buy” rating and a $22.00 target price for the company. UBS Group began coverage on Veritone in a research note on Tuesday, April 12th. They issued a “neutral” rating and a $18.00 target price for the company. Stifel Nicolaus lowered their target price on Veritone from $25.00 to $23.00 and set a “hold” rating for the company in a research note on Friday, March 4th. Northland Securities lowered their target price on Veritone from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, March 4th. Finally, JMP Securities lowered their target price on Veritone from $49.00 to $24.00 in a research note on Friday, April 29th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.00.
NASDAQ VERI opened at $9.06 on Thursday. Veritone has a fifty-two week low of $8.98 and a fifty-two week high of $37.14. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a 50 day simple moving average of $15.68 and a two-hundred day simple moving average of $20.02. The stock has a market cap of $326.72 million, a P/E ratio of -4.58 and a beta of 3.17.
Veritone (NASDAQ:VERI – Get Rating) last released its quarterly earnings data on Thursday, March 3rd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.42). Veritone had a negative return on equity of 76.51% and a negative net margin of 52.10%. The business had revenue of $55.15 million during the quarter, compared to analysts’ expectations of $44.65 million. Sell-side analysts predict that Veritone will post -0.81 earnings per share for the current year.
In related news, Director G Louis Graziadio III acquired 9,000 shares of Veritone stock in a transaction that occurred on Friday, March 11th. The stock was bought at an average price of $15.76 per share, with a total value of $141,840.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have purchased 11,500 shares of company stock valued at $179,715. 28.90% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its position in Veritone by 150.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,500 shares of the company’s stock valued at $56,000 after buying an additional 1,500 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Veritone in the 3rd quarter worth $69,000. Manchester Capital Management LLC bought a new stake in shares of Veritone in the 4th quarter worth $70,000. Private Capital Group LLC bought a new stake in shares of Veritone in the 1st quarter worth $64,000. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Veritone in the 4th quarter worth $87,000. 49.82% of the stock is owned by institutional investors.
About Veritone (Get Rating)
Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models, such as perception, prediction, and problem solving and optimization, as well as cognitive processes, including transcription, language translation, face detection and recognition, object detection and recognition, logo recognition, sentiment analysis, text keyword/topic analysis, audio/video fingerprinting, geolocation, visual moderation, and optical character recognition to reveal valuable insights from vast amounts of structured and unstructured data.
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