Veritone, Inc. (NASDAQ:VERI) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Veritone, Inc. has received a consensus recommendation of "Moderate Buy" from six brokerages, with an average twelve-month price target of $5.75.
• HC Wainwright has increased its target price for Veritone from $6.00 to $9.00, while one analyst has rated the stock as a sell.
• Institutional investors currently hold 39.18% of Veritone's stock, with recent investments totaling approximately $70,000 to $315,000 from various funds.

Shares of Veritone, Inc. (NASDAQ:VERI - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.75.

A number of equities research analysts have recently issued reports on the stock. HC Wainwright boosted their target price on shares of Veritone from $6.00 to $9.00 and gave the company a "buy" rating in a research report on Monday. D. Boral Capital reiterated a "buy" rating on shares of Veritone in a research note on Wednesday, October 15th. Wall Street Zen lowered shares of Veritone from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings reiterated a "sell (e+)" rating on shares of Veritone in a research report on Wednesday, October 8th. Finally, D Boral Capital upgraded Veritone to a "strong-buy" rating in a research note on Tuesday, September 2nd.

Veritone Stock Performance

Shares of NASDAQ VERI opened at $5.97 on Wednesday. The company has a debt-to-equity ratio of 89.57, a current ratio of 0.89 and a quick ratio of 0.89. The stock's fifty day moving average price is $4.20 and its two-hundred day moving average price is $2.69. Veritone has a one year low of $1.22 and a one year high of $9.42. The firm has a market cap of $353.24 million, a price-to-earnings ratio of -7.19 and a beta of 3.23.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VERI. Capital Advisors Inc. OK acquired a new position in Veritone in the first quarter valued at about $70,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Veritone during the first quarter worth about $102,000. NBZ Investment Advisors LLC acquired a new position in shares of Veritone in the 1st quarter valued at approximately $86,000. Virtu Financial LLC bought a new stake in shares of Veritone during the 1st quarter worth approximately $30,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Veritone during the 1st quarter worth approximately $315,000. Institutional investors own 39.18% of the company's stock.

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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