Veritone, Inc. (NASDAQ:VERI) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts maintain a consensus “Hold” rating on Veritone, based on five analysts: three buys, one hold and one sell. The average 12-month price target is $6.125.
• Veritone’s stock opened at $1.15, near its 52-week low of $0.98 and well below its 52-week high of $9.42. The company has a market capitalization of approximately $106.9 million.
• In its latest quarter, Veritone matched analysts’ loss estimate at $0.11 per share but reported $24.26 million in revenue, below the $28.29 million consensus forecast; the company also posted a negative net margin of 112.56%.

Shares of Veritone, Inc. (NASDAQ:VERI - Get Free Report) have received a consensus rating of "Hold" from the five brokerages that are presently covering the stock, MarketBeat.com reports. One equities 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 analysts that have covered the stock in the last year is $6.1250.

A number of equities analysts have recently weighed in on the company. UBS Group started coverage on Veritone in a report on Monday, June 1st. They issued a "neutral" rating and a $2.50 target price on the stock. Weiss Ratings raised shares of Veritone from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday. Wall Street Zen upgraded shares of Veritone from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Needham & Company LLC cut their target price on shares of Veritone to $5.00 and set a "buy" rating for the company in a research report on Friday.

Hedge Funds Weigh In On Veritone

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VERI. BlackRock Inc. bought a new position in shares of Veritone during the 2nd quarter valued at $9,003,000. Vanguard Group Inc. boosted its holdings in Veritone by 63.1% in the third quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company's stock worth $13,275,000 after purchasing an additional 1,065,460 shares in the last quarter. Banta Asset Management LP acquired a new position in Veritone during the fourth quarter worth $12,268,000. Cooper Creek Partners Management LLC acquired a new position in Veritone during the third quarter worth $11,718,000. Finally, Marshall Wace LLP raised its holdings in Veritone by 16,314.3% during the third quarter. Marshall Wace LLP now owns 1,676,397 shares of the company's stock valued at $8,080,000 after buying an additional 1,666,184 shares in the last quarter. Institutional investors own 39.18% of the company's stock.

Veritone Stock Performance

Veritone stock opened at $1.15 on Friday. The company has a 50 day moving average price of $1.28 and a 200 day moving average price of $2.10. Veritone has a 52 week low of $0.98 and a 52 week high of $9.42. The firm has a market capitalization of $106.89 million, a price-to-earnings ratio of -2.50 and a beta of 2.29.

Veritone (NASDAQ:VERI - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $24.26 million for the quarter, compared to analysts' expectations of $28.29 million. Veritone had a negative net margin of 112.56% and a negative return on equity of 152.75%.

About Veritone

Veritone, Inc NASDAQ: VERI is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source