Veritone (NASDAQ:VERI) Research Coverage Started at Needham & Company LLC

Needham & Company LLC began coverage on shares of Veritone (NASDAQ:VERI) in a research report report published on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $10.00 price objective on the stock.

Several other brokerages have also recently weighed in on VERI. D Boral Capital raised shares of Veritone to a “strong-buy” rating in a research note on Tuesday, September 2nd. Wall Street Zen lowered shares of Veritone from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. D. Boral Capital restated a “buy” rating on shares of Veritone in a research report on Wednesday, October 15th. HC Wainwright upped their price objective on shares of Veritone from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Veritone currently has an average rating of “Moderate Buy” and a consensus target price of $6.60.

Veritone Stock Up 16.9%

Shares of NASDAQ VERI opened at $7.18 on Thursday. The company has a 50 day simple moving average of $4.42 and a 200 day simple moving average of $2.78. The company has a debt-to-equity ratio of 89.57, a current ratio of 0.89 and a quick ratio of 0.89. Veritone has a 1 year low of $1.22 and a 1 year high of $9.42. The firm has a market cap of $424.84 million, a PE ratio of -8.65 and a beta of 3.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in Veritone in the first quarter worth $30,000. Ground Swell Capital LLC bought a new position in shares of Veritone during the 2nd quarter worth about $27,000. Capital Advisors Inc. OK acquired a new stake in shares of Veritone in the 1st quarter valued at about $70,000. NBZ Investment Advisors LLC bought a new stake in Veritone in the 1st quarter valued at about $86,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Veritone in the 1st quarter valued at about $102,000. 39.18% of the stock is owned by institutional investors.

Veritone Company Profile

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.