Zacks Investment Research downgraded shares of Veritone, Inc. (NASDAQ:VERI) from a hold rating to a sell rating in a research report released on Saturday morning.
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. “
Other analysts have also issued research reports about the company. B. Riley restated a veri ( rating and issued a $18.00 target price on shares of Veritone in a report on Monday, August 14th. Northland Securities set a $19.00 target price on Veritone and gave the company a buy rating in a report on Wednesday, July 19th. Finally, Roth Capital began coverage on Veritone in a report on Friday, August 11th. They issued a buy rating and a $13.20 target price for the company. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $25.60.
Shares of Veritone (NASDAQ VERI) opened at $28.98 on Friday. Veritone has a one year low of $7.76 and a one year high of $74.92.
Veritone (NASDAQ:VERI) last released its earnings results on Monday, November 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.88). The business had revenue of $3.72 million during the quarter, compared to analysts’ expectations of $4.95 million. Veritone had a negative net margin of 416.28% and a negative return on equity of 1,887.29%. Veritone’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($3.49) EPS. research analysts predict that Veritone will post -5.22 EPS for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Veritone in the third quarter valued at $132,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Veritone during the third quarter worth $205,000. Quantbot Technologies LP purchased a new stake in shares of Veritone during the third quarter worth $263,000. First Republic Investment Management Inc. purchased a new stake in shares of Veritone during the third quarter worth $272,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of Veritone during the third quarter worth $489,000. Institutional investors own 8.43% of the company’s stock.
Veritone Company Profile
Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.
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