Veritone (NASDAQ:VERI) Price Target Cut to $23.00 by Analysts at D. Boral Capital

Veritone (NASDAQ:VERI) had its price target reduced by research analysts at D. Boral Capital from $25.00 to $23.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. D. Boral Capital’s price target would indicate a potential upside of 302.80% from the stock’s current price.

A number of other equities analysts also recently commented on VERI. D Boral Capital raised shares of Veritone to a “strong-buy” rating in a research note on Tuesday, September 2nd. HC Wainwright upped their price objective on Veritone from $6.00 to $9.00 and gave the company a “buy” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a research report on Wednesday, October 8th. Needham & Company LLC started coverage on Veritone in a research report on Thursday, October 23rd. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Wall Street Zen raised shares of Veritone from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Veritone Trading Down 10.6%

Shares of VERI traded down $0.68 during midday trading on Friday, reaching $5.71. The company had a trading volume of 7,612,326 shares, compared to its average volume of 2,963,907. Veritone has a 1-year low of $1.22 and a 1-year high of $9.42. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 89.57. The firm has a 50 day simple moving average of $5.13 and a 200-day simple moving average of $3.05. The stock has a market cap of $337.86 million, a PE ratio of -6.88 and a beta of 3.29.

Institutional Trading of Veritone

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised 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 valued at $13,275,000 after purchasing an additional 1,065,460 shares in the last quarter. Wesbanco Bank Inc. purchased a new stake in shares of Veritone in the 3rd quarter valued at approximately $241,000. Connective Capital Management LLC acquired a new stake in shares of Veritone in the 2nd quarter valued at $657,000. Geode Capital Management LLC lifted its position in shares of Veritone by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 480,842 shares of the company’s stock worth $606,000 after purchasing an additional 19,597 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new position in Veritone in the second quarter valued at $27,000. 39.18% of the stock is currently owned by institutional investors and hedge funds.

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.