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

Key Points

• D. Boral Capital has reaffirmed a "Buy" rating on Veritone (NASDAQ:VERI) with a price target of $4.00, suggesting a potential upside of 50.94% from its previous close.
• UBS Group has lowered its price target for Veritone from $3.50 to $2.00, reflecting a more cautious outlook with a "neutral" rating.
• Veritone's current stock price is $2.65, with a market cap of $126.01 million and significant institutional ownership of 39.18% in the company.

Veritone (NASDAQ:VERI - Get Free Report)'s stock had its "buy" rating restated by equities researchers at D. Boral Capital in a report released on Friday,Benzinga reports. They currently have a $4.00 price objective on the stock. D. Boral Capital's price objective indicates a potential upside of 40.85% from the company's current price.

Separately, UBS Group cut their target price on Veritone from $3.50 to $2.00 and set a "neutral" rating for the company in a research report on Friday, May 9th.

Veritone Stock Performance

Shares of NASDAQ VERI traded up $0.53 during midday trading on Friday, hitting $2.84. 6,106,142 shares of the company's stock were exchanged, compared to its average volume of 3,214,791. The firm has a market cap of $135.04 million, a P/E ratio of -3.42 and a beta of 2.81. The company has a debt-to-equity ratio of 7.50, a current ratio of 0.99 and a quick ratio of 0.99. Veritone has a twelve month low of $1.22 and a twelve month high of $5.64. The stock's 50 day moving average price is $1.79 and its 200-day moving average price is $2.22.

Institutional Investors Weigh In On Veritone

A number of institutional investors and hedge funds have recently modified their holdings of VERI. Ground Swell Capital LLC acquired a new stake in shares of Veritone during the 2nd quarter valued at $27,000. Virtu Financial LLC acquired a new stake in shares of Veritone during the 1st quarter valued at $30,000. Bayesian Capital Management LP acquired a new stake in shares of Veritone during the 4th quarter valued at $39,000. LPL Financial LLC acquired a new stake in shares of Veritone during the 4th quarter valued at $48,000. Finally, Capital Advisors Inc. OK acquired a new stake in shares of Veritone during the 1st quarter valued at $70,000. 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.