Veritone (NASDAQ:VERI) Stock Price Down 18%

Veritone, Inc. (NASDAQ:VERI - Get Free Report)'s stock price fell 18% during trading on Wednesday . The company traded as low as $5.15 and last traded at $5.24. 3,706,882 shares traded hands during trading, an increase of 64% from the average session volume of 2,258,578 shares. The stock had previously closed at $6.39.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on VERI shares. Roth Capital raised Veritone from a "sell" rating to a "neutral" rating in a research note on Thursday, February 1st. Roth Mkm boosted their target price on shares of Veritone from $1.85 to $2.25 and gave the stock a "neutral" rating in a report on Thursday, March 14th.

Veritone Stock Down 18.0 %

The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $194.57 million, a PE ratio of -2.44 and a beta of 2.97. The company has a fifty day moving average price of $3.31 and a 200-day moving average price of $2.53.

Veritone (NASDAQ:VERI - Get Free Report) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.05. Veritone had a negative net margin of 42.97% and a negative return on equity of 120.37%. The company had revenue of $34.20 million for the quarter, compared to analysts' expectations of $33.67 million. As a group, analysts expect that Veritone, Inc. will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Veritone

Several institutional investors have recently modified their holdings of VERI. Advisor Group Holdings Inc. lifted its holdings in shares of Veritone by 115.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 10,088 shares of the company's stock worth $184,000 after acquiring an additional 5,412 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Veritone by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 105,758 shares of the company's stock worth $1,934,000 after purchasing an additional 1,737 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Veritone during the first quarter valued at approximately $43,000. MetLife Investment Management LLC raised its holdings in shares of Veritone by 54.1% in the first quarter. MetLife Investment Management LLC now owns 16,303 shares of the company's stock worth $298,000 after buying an additional 5,726 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Veritone by 5.3% during the 1st quarter. Rhumbline Advisers now owns 30,876 shares of the company's stock worth $564,000 after acquiring an additional 1,543 shares during the last quarter. 39.18% of the stock is owned by institutional investors.

About Veritone

Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions and services in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models and human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.

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