Veritone, Inc. (NASDAQ:VERI) Given Average Rating of "Buy" by Analysts

Key Points

• Veritone, Inc. has received an average rating of "Buy" from analysts, with a 1-year price target of $5.00.
• Institutional investors currently hold 39.18% of the company’s stock, with several new stakes acquired recently.
• Veritone's stock has decreased by 9.0%, with a market capitalization of approximately $300.58 million and significant volatility indicated by a beta of 3.05.

Veritone, Inc. (NASDAQ:VERI - Get Free Report) has received an average rating of "Buy" from the five analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $5.00.

Several equities analysts have issued reports on VERI shares. D Boral Capital raised shares of Veritone to a "strong-buy" rating in a report on Tuesday, September 2nd. Wall Street Zen raised shares of Veritone from a "sell" rating to a "hold" rating in a report on Friday. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $6.00 price objective on shares of Veritone in a report on Tuesday, September 2nd.

Institutional Investors Weigh In On Veritone

A number of hedge funds have recently modified their holdings of VERI. Connective Capital Management LLC acquired a new stake in Veritone during the second quarter worth about $657,000. OMERS ADMINISTRATION Corp acquired a new stake in Veritone during the first quarter worth about $315,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Veritone during the first quarter worth about $102,000. Jane Street Group LLC acquired a new stake in Veritone during the fourth quarter worth about $130,000. Finally, NBZ Investment Advisors LLC acquired a new stake in Veritone during the first quarter worth about $86,000. 39.18% of the stock is currently owned by institutional investors and hedge funds.

Veritone Stock Down 9.0%

NASDAQ:VERI opened at $5.08 on Friday. The company's fifty day moving average price is $3.14 and its 200-day moving average price is $2.34. Veritone has a 1-year low of $1.22 and a 1-year high of $6.43. The firm has a market capitalization of $300.58 million, a P/E ratio of -6.12 and a beta of 3.05. The company has a debt-to-equity ratio of 89.57, a current ratio of 0.89 and a quick ratio of 0.89.

Veritone Company Profile

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic 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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