Veritone, Inc. (NASDAQ:VERI) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts rate Veritone “Hold” overall: Of five covering brokerages, three recommend buying, one recommends holding, and one recommends selling. The average 12-month price target is $6.125.
• Shares opened at $0.92, with a market capitalization of approximately $92 million and a 52-week range of $0.76 to $9.42. The stock’s latest quarterly revenue of $24.26 million fell short of the $28.29 million consensus estimate, while EPS matched expectations at a loss of $0.11.
• CEO Ryan Steelberg increased his stake by 25.59% through the purchase of 148,810 shares, while institutional investors own 39.18% of the company’s stock.

Shares of Veritone, Inc. (NASDAQ:VERI - Get Free Report) have earned a consensus rating of "Hold" from the five brokerages that are currently covering the firm, Marketbeat reports. One research 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 1-year price objective among brokers that have issued ratings on the stock in the last year is $6.1250.

VERI has been the topic of several research reports. Needham & Company LLC dropped their price objective on Veritone to $5.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Wall Street Zen raised Veritone from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. Weiss Ratings cut Veritone from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 25th. Finally, UBS Group started coverage on Veritone in a research note on Monday, June 1st. They set a "neutral" rating and a $2.50 price target on the stock.

Veritone Trading Up 1.0%

VERI stock opened at $0.92 on Wednesday. The stock has a market cap of $91.97 million, a P/E ratio of -2.41 and a beta of 2.26. Veritone has a twelve month low of $0.76 and a twelve month high of $9.42. The company's 50 day moving average is $1.08 and its two-hundred day moving average is $1.79.

Veritone (NASDAQ:VERI - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Veritone had a negative net margin of 111.90% and a negative return on equity of 159.15%. The business had revenue of $24.26 million during the quarter, compared to analysts' expectations of $28.29 million.

Insider Buying and Selling at Veritone

In other Veritone news, CEO Ryan Steelberg bought 148,810 shares of the stock in a transaction dated Friday, August 21st. The shares were acquired at an average cost of $0.85 per share, for a total transaction of $126,488.50. Following the completion of the transaction, the chief executive officer owned 730,284 shares in the company, valued at approximately $620,741.40. The trade was a 25.59% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.37% of the company's stock.

Institutional Trading of Veritone

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in 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. Vanguard Group Inc. raised its holdings in shares of Veritone by 63.1% in the third quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company's stock valued at $13,275,000 after buying an additional 1,065,460 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Veritone during the third quarter worth about $82,000. Franklin Resources Inc. acquired a new stake in shares of Veritone during the third quarter worth about $50,000. Finally, Marshall Wace LLP grew its holdings in shares of Veritone by 16,314.3% during the third quarter. Marshall Wace LLP now owns 1,676,397 shares of the company's stock worth $8,080,000 after buying an additional 1,666,184 shares during the last quarter. Hedge funds and other institutional investors 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.

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