Veritone’s (VERI) Buy Rating Reiterated at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of Veritone (NASDAQ:VERI) in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a $23.00 price objective on the stock.

VERI has been the topic of several other research reports. Needham & Company LLC began coverage on Veritone in a research note on Thursday, October 23rd. They issued a “buy” rating and a $10.00 target price on the stock. D Boral Capital raised shares of Veritone to a “strong-buy” rating in a research note on Tuesday, September 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, October 8th. Wall Street Zen upgraded Veritone from a “sell” rating to a “hold” rating in a report on Sunday, October 26th. Finally, HC Wainwright lifted 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. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Veritone Price Performance

NASDAQ:VERI opened at $5.49 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 6.77. The firm has a market cap of $504.04 million, a PE ratio of -8.19 and a beta of 2.04. Veritone has a 12 month low of $1.22 and a 12 month high of $9.42. The company’s 50-day moving average price is $5.39 and its two-hundred day moving average price is $3.41.

Veritone (NASDAQ:VERI) last posted its earnings results on Thursday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $29.12 million during the quarter, compared to analysts’ expectations of $28.69 million. Veritone had a negative net margin of 42.60% and a negative return on equity of 361.72%.

Hedge Funds Weigh In On Veritone

A number of hedge funds have recently added to or reduced their stakes in the stock. Cooper Creek Partners Management LLC acquired a new position in Veritone in the 3rd quarter valued at $11,718,000. Marshall Wace LLP raised its stake in Veritone by 16,314.3% in the third quarter. Marshall Wace LLP now owns 1,676,397 shares of the company’s stock valued at $8,080,000 after purchasing an additional 1,666,184 shares in the last quarter. Vanguard Group Inc. lifted its position in Veritone by 63.1% during the third quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company’s stock worth $13,275,000 after purchasing an additional 1,065,460 shares during the period. Royce & Associates LP acquired a new stake in Veritone during the third quarter worth about $2,603,000. Finally, Connective Capital Management LLC acquired a new stake in Veritone during the second quarter worth about $657,000. Institutional investors 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.