Veritone, Inc. (NASDAQ:VERI) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Veritone has a consensus analyst rating of "Hold", based on five covering firms, with three buy ratings, one hold, and one sell. The average 1-year price target is $7.375.
• Recent analyst actions were mixed-to-negative, including downgrades from Wall Street Zen and Weiss Ratings, while UBS started coverage with a neutral rating and a $2.50 target.
• The stock was trading at $1.05, near its 12-month low of $0.99, and far below the highest recent analyst targets from HC Wainwright and D. Boral Capital.

Shares of Veritone, Inc. (NASDAQ:VERI - Get Free Report) have been assigned an average recommendation of "Hold" from the five research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.3750.

Several research firms recently issued reports on VERI. Wall Street Zen cut Veritone from a "sell" rating to a "strong sell" rating in a report on Sunday, July 12th. UBS Group started coverage on Veritone in a research report on Monday, June 1st. They set a "neutral" rating and a $2.50 price target for the company. Weiss Ratings cut shares of Veritone from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, July 15th. HC Wainwright restated a "buy" rating and set a $9.00 price target on shares of Veritone in a research report on Monday, March 30th. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $8.00 price target on shares of Veritone in a report on Wednesday, April 15th.

Veritone Price Performance

Veritone stock opened at $1.05 on Tuesday. Veritone has a 12 month low of $0.99 and a 12 month high of $9.42. The stock has a market capitalization of $97.60 million, a PE ratio of -2.28 and a beta of 2.28. The business has a 50 day simple moving average of $1.59 and a 200-day simple moving average of $2.53.

Institutional Investors Weigh In On Veritone

Hedge funds have recently modified their holdings of the company. State of Wyoming purchased a new position in Veritone during the fourth quarter worth about $25,000. Franklin Resources Inc. purchased a new stake in shares of Veritone during the third quarter worth $50,000. SummitTX Capital L.P. acquired a new position in shares of Veritone during the first quarter worth about $26,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Veritone during the third quarter worth about $80,000. Finally, Jefferies Financial Group Inc. acquired a new position in Veritone during the 3rd quarter worth approximately $82,000. Hedge funds and other institutional investors own 39.18% of the company's stock.

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.

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