Veritone, Inc. (NASDAQ:VERI) Stock Has Consensus Price Target of $6.12

Veritone, Inc. (NASDAQ:VERI - Get Free Report) has earned a consensus rating of "Hold" from the five research firms that are presently covering the firm, Marketbeat.com reports. One 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 12 month target price among analysts that have covered the stock in the last year is $6.12.

VERI has been the topic of several research reports. Weiss Ratings upgraded Veritone from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, September 9th. Needham & Company LLC reaffirmed a "buy" rating on shares of Veritone in a research report on Tuesday. Finally, Wall Street Zen upgraded Veritone from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st.

Insider Buying and Selling

In other Veritone news, CEO Ryan Steelberg acquired 148,810 shares of the company's stock in a transaction on Friday, August 21st. The shares were acquired at an average cost of $0.85 per share, with a total value of $126,488.50. Following the completion of the acquisition, the chief executive officer directly owned 730,284 shares in the company, valued at $620,741.40. This trade represents a 25.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Veritone

Several large investors have recently modified their holdings of the business. SummitTX Capital L.P. purchased a new stake in shares of Veritone during the 1st quarter valued at approximately $26,000. Citizens Financial Group Inc. RI bought a new position in Veritone in the 2nd quarter worth approximately $37,000. Two Sigma Securities LLC bought a new position in Veritone in the 2nd quarter worth approximately $38,000. OMERS ADMINISTRATION Corp grew its stake in Veritone by 115.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 76,800 shares of the company's stock valued at $151,000 after buying an additional 41,200 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Veritone in the 2nd quarter valued at approximately $113,000. Hedge funds and other institutional investors own 39.18% of the company's stock.

Veritone Stock Performance

VERI opened at $0.67 on Thursday. The firm has a 50-day moving average of $0.85 and a 200 day moving average of $1.89. Veritone has a fifty-two week low of $0.51 and a fifty-two week high of $6.90. The firm has a market cap of $67.99 million, a P/E ratio of -1.76 and a beta of 2.33.

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

Veritone Company Profile

Veritone, Inc NASDAQ: VERI is an artificial intelligence technology company that develops software for organizing, analyzing and generating insights from large volumes of data. Its platform is designed to help organizations apply AI to audio, video, text and other data sources across business and public-sector applications.

The company's primary technology platform, aiWARE, provides access to a broad range of AI models and tools through a unified operating environment. Veritone also offers solutions for digital media management, including tools that help media organizations, sports teams and other content owners manage, search, monetize and distribute audio and video assets.

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