Veritone's (VERI) Buy Rating Reaffirmed at D. Boral Capital

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 reiterated by equities researchers at D. Boral Capital in a research report issued on Tuesday,Benzinga reports. They presently have a $6.00 price target on the stock. D. Boral Capital's price objective indicates a potential upside of 117.39% from the stock's current price.

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

Veritone Trading Down 6.8%

Shares of Veritone stock traded down $0.20 during trading hours on Tuesday, reaching $2.76. The stock had a trading volume of 2,228,953 shares, compared to its average volume of 2,744,404. The firm has a 50 day simple moving average of $2.27 and a two-hundred day simple moving average of $2.15. The firm has a market capitalization of $152.55 million, a price-to-earnings ratio of -3.33 and a beta of 3.05. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 89.57. Veritone has a 1 year low of $1.22 and a 1 year high of $5.64.

Institutional Investors Weigh In On Veritone

A number of hedge funds have recently bought and sold shares of VERI. Barclays PLC grew its stake in Veritone by 514.0% during the 4th quarter. Barclays PLC now owns 37,536 shares of the company's stock valued at $124,000 after purchasing an additional 31,423 shares in the last quarter. Northern Trust Corp grew its stake in Veritone by 24.2% during the 4th quarter. Northern Trust Corp now owns 146,105 shares of the company's stock valued at $479,000 after purchasing an additional 28,510 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Veritone in the 4th quarter worth approximately $130,000. Bayesian Capital Management LP acquired a new position in shares of Veritone in the 4th quarter worth approximately $39,000. Finally, Squarepoint Ops LLC grew its position in shares of Veritone by 39.6% in the 4th quarter. Squarepoint Ops LLC now owns 43,850 shares of the company's stock worth $144,000 after acquiring an additional 12,435 shares in the last quarter. Institutional investors and hedge funds own 39.18% of the company's stock.

About Veritone

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.