Analysts Set Veritone, Inc. (NASDAQ:VERI) Price Target at $8.75

Veritone, Inc. (NASDAQ:VERI) has received a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $7.25.

A number of research analysts have recently weighed in on the company. D. Boral Capital restated a “buy” rating and set a $8.00 price objective on shares of Veritone in a research report on Wednesday, April 15th. Wall Street Zen lowered Veritone from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Veritone in a report on Wednesday, January 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Veritone in a research note on Monday, March 30th.

Hedge Funds Weigh In On Veritone

Institutional investors have recently bought and sold shares of the business. State of Wyoming purchased a new position in shares of Veritone in the 4th quarter worth $25,000. Franklin Resources Inc. bought a new position in shares of Veritone in the 3rd quarter valued at about $50,000. Sherbrooke Park Advisers LLC bought a new position in shares of Veritone in the 3rd quarter valued at about $80,000. Jefferies Financial Group Inc. purchased a new position in Veritone in the third quarter worth about $82,000. Finally, EntryPoint Capital LLC purchased a new position in Veritone in the fourth quarter worth about $84,000. Institutional investors own 39.18% of the company’s stock.

Veritone Stock Performance

Shares of NASDAQ:VERI opened at $2.15 on Wednesday. The firm has a fifty day moving average price of $2.62 and a 200 day moving average price of $4.18. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $9.42. The firm has a market cap of $199.83 million, a price-to-earnings ratio of -3.21 and a beta of 2.36.

Veritone (NASDAQ:VERI) last posted its earnings results on Wednesday, April 15th. The company reported $999.00 earnings per share for the quarter. Veritone had a negative net margin of 115.52% and a negative return on equity of 266.00%.

About Veritone

Veritone, Inc (NASDAQ: VERI) is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.