Veritone, Inc. (NASDAQ:VERI) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Veritone, Inc. (NASDAQ:VERI) have been given an average rating of “Hold” by the five brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.3750.

Several equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Veritone from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. UBS Group started coverage on Veritone in a research note on Monday. They set a “neutral” rating and a $2.50 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Veritone in a research report on Monday, March 30th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $8.00 price target on shares of Veritone in a research note on Wednesday, April 15th.

Veritone Price Performance

Veritone stock traded down $0.02 during midday trading on Monday, hitting $2.11. 1,207,501 shares of the company were exchanged, compared to its average volume of 2,533,387. The company’s fifty day moving average price is $2.14 and its 200-day moving average price is $3.40. The company has a market cap of $195.66 million, a PE ratio of -4.62 and a beta of 2.23. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $9.42.

Veritone (NASDAQ:VERI) last posted its quarterly earnings data on Wednesday, April 15th. The company reported $999.00 earnings per share (EPS) for the quarter. Veritone had a negative net margin of 117.88% and a negative return on equity of 198.79%. On average, analysts expect that Veritone will post -0.29 EPS for the current fiscal year.

Institutional Trading of Veritone

A number of hedge funds have recently made changes to their positions in VERI. State of Wyoming bought a new stake in shares of Veritone in the fourth quarter worth $25,000. SummitTX Capital L.P. bought a new position in Veritone during the 1st quarter valued at $26,000. Franklin Resources Inc. bought a new position in Veritone during the 3rd quarter valued at $50,000. Sherbrooke Park Advisers LLC acquired a new position in Veritone during the 3rd quarter worth $80,000. Finally, Jefferies Financial Group Inc. acquired a new position in Veritone during the 3rd quarter worth $82,000. Institutional investors and hedge funds own 39.18% of the company’s stock.

Veritone Company Profile

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.