D. Boral Capital Reiterates Buy Rating for Veritone (NASDAQ:VERI)

Key Points

• D. Boral Capital has reaffirmed a "Buy" rating for Veritone (NASDAQ:VERI) with a target price of $6.00, indicating a potential upside of 96.72% from its current price.
• UBS Group has lowered its price target for Veritone from $3.50 to $2.00, while the overall consensus rating remains a "Moderate Buy" with a target price of $5.00.
• Institutional investors have shown increased interest in Veritone, with notable growth from Barclays PLC and Northern Trust Corp in the fourth quarter.

Veritone (NASDAQ:VERI - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at D. Boral Capital in a report issued on Tuesday,Benzinga reports. They presently have a $6.00 price target on the stock. D. Boral Capital's price target indicates a potential upside of 125.56% from the stock's current price.

Separately, UBS Group decreased their target price on shares of Veritone from $3.50 to $2.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $5.00.

Veritone Stock Performance

VERI traded down $0.10 during trading on Tuesday, reaching $2.66. 1,515,949 shares of the company's stock were exchanged, compared to its average volume of 2,778,366. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $5.64. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 89.57. The business has a 50 day moving average price of $2.29 and a 200 day moving average price of $2.14. The company has a market capitalization of $147.02 million, a P/E ratio of -3.20 and a beta of 3.05.

Institutional Trading of Veritone

Hedge funds have recently modified their holdings of the company. Connective Capital Management LLC acquired a new position in shares of Veritone in the 2nd quarter worth approximately $657,000. Geode Capital Management LLC raised its position in Veritone by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 480,842 shares of the company's stock valued at $606,000 after purchasing an additional 19,597 shares during the last quarter. Ground Swell Capital LLC bought a new position in Veritone in the 2nd quarter valued at $27,000. Freedom Investment Management Inc. boosted its stake in Veritone by 6.3% in the second quarter. Freedom Investment Management Inc. now owns 117,572 shares of the company's stock worth $148,000 after purchasing an additional 6,954 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Veritone during the first quarter worth $315,000. Institutional investors and hedge funds 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.