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

Key Points

• Analysts rate Veritone “Hold” overall, with three buys, one hold and one sell among five analysts. The consensus 12-month price target is $6.12.
• VERI opened at $0.75, near its 52-week low of $0.72 and well below its high of $9.42. The company reported a quarterly loss of $0.11 per share and revenue of $24.26 million, below the $28.29 million consensus estimate.
• CEO Ryan Steelberg purchased 148,810 shares for approximately $126,489, increasing his position by 25.59%; insiders own 7.37% of the company, while institutional investors hold 39.18%.

Shares of Veritone, Inc. (NASDAQ:VERI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $6.12.

Several analysts recently commented on VERI shares. Weiss Ratings raised Veritone from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, September 9th. Needham & Company LLC decreased their price target on Veritone to $5.00 and set a "buy" rating for the company in a report on Friday, August 14th. Finally, Wall Street Zen upgraded Veritone from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st.

Veritone Price Performance

NASDAQ VERI opened at $0.75 on Friday. Veritone has a 1 year low of $0.72 and a 1 year high of $9.42. The company has a market capitalization of $75.25 million, a PE ratio of -1.97 and a beta of 2.33. The company has a fifty day moving average of $1.06 and a 200 day moving average of $1.56.

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

Insider Buying and Selling at Veritone

In other news, CEO Ryan Steelberg bought 148,810 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average cost of $0.85 per share, for a total transaction of $126,488.50. Following the purchase, the chief executive officer directly owned 730,284 shares in the company, valued at approximately $620,741.40. This trade represents 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 hyperlink. 7.37% of the stock is currently owned by company insiders.

Institutional Trading of Veritone

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SummitTX Capital L.P. acquired a new stake in Veritone in the 1st quarter worth about $26,000. Citizens Financial Group Inc. RI acquired a new position in shares of Veritone during the second quarter valued at approximately $37,000. Two Sigma Securities LLC acquired a new position in shares of Veritone during the second quarter valued at approximately $38,000. OMERS ADMINISTRATION Corp lifted its position in shares of Veritone by 115.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 76,800 shares of the company's stock valued at $151,000 after acquiring an additional 41,200 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Veritone in the second quarter valued at approximately $113,000. Institutional investors and hedge funds own 39.18% of the company's stock.

About Veritone

Veritone, Inc is an artificial intelligence software company that develops tools for managing, analyzing and deploying AI applications. Its principal platform, aiWARE, is designed to help organizations orchestrate multiple AI models and process large volumes of structured and unstructured data, including audio, video, images and text.

The company offers AI-powered solutions for industries such as media and entertainment, sports, government, legal and compliance, recruiting, and public safety.

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