Veritone (NASDAQ:VERI) had its target price lifted by stock analysts at Roth Capital from $31.00 to $42.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage presently has a "buy" rating on the stock. Roth Capital's price target points to a potential upside of 13.70% from the stock's previous close.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Veritone from a "buy" rating to a "hold" rating in a research note on Thursday, February 11th. Stifel Nicolaus assumed coverage on Veritone in a research note on Monday, December 21st. They set a "hold" rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of "Hold" and an average target price of $23.57.
VERI stock traded up $0.28 during mid-day trading on Tuesday, reaching $36.94. 43,147 shares of the company traded hands, compared to its average volume of 852,238. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -19.34 and a beta of 3.55. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $50.34. The firm's 50 day moving average price is $40.32 and its 200 day moving average price is $21.03.
In other news, Director G Louis Graziadio III sold 982 shares of the business's stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $36.40, for a total value of $35,744.80. Following the transaction, the director now owns 134,283 shares in the company, valued at approximately $4,887,901.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 25.60% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its holdings in shares of Veritone by 538.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,495 shares of the company's stock worth $50,000 after purchasing an additional 4,634 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Veritone by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,723 shares of the company's stock worth $82,000 after purchasing an additional 1,001 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Veritone in the 3rd quarter worth approximately $117,000. Advisory Services Network LLC raised its holdings in shares of Veritone by 28.9% in the 4th quarter. Advisory Services Network LLC now owns 4,461 shares of the company's stock worth $127,000 after purchasing an additional 1,000 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of Veritone by 300.9% in the 4th quarter. Citigroup Inc. now owns 4,506 shares of the company's stock worth $128,000 after purchasing an additional 3,382 shares during the period. 28.10% of the stock is currently owned by institutional investors.
Veritone Company Profile
Veritone, Inc provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that integrates and orchestrates a range of cognitive engines to reveal multivariate insights from structured and unstructured data, as well as to conduct cognitive workflows based on these insights.
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