Veritone (NASDAQ:VERI) Receives Buy Rating from HC Wainwright

Key Points

• HC Wainwright reissued a Buy rating on Veritone with a $9.00 price target, implying roughly a 389% upside from the stock's prior close.
• Analyst coverage is mixed — three Buy ratings, one Hold and one Sell — leaving an average consensus of "Hold" and an average target price of $8.75.
• Veritone opened at $1.84 (1‑year range $1.22–$9.42) with a market cap of $168.9M, a negative P/E and a high debt-to-equity ratio (6.77), highlighting valuation and leverage risks.

Veritone (NASDAQ:VERI - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $9.00 target price on the stock. HC Wainwright's price objective indicates a potential upside of 389.13% from the stock's previous close.

Other equities analysts have also issued reports about the company. Wall Street Zen lowered Veritone from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Weiss Ratings reissued a "sell (e+)" rating on shares of Veritone in a report on Wednesday, January 21st. D. Boral Capital restated a "buy" rating and issued a $14.00 target price on shares of Veritone in a report on Friday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 target price on shares of Veritone in a research report on Tuesday, December 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $8.75.

Veritone Price Performance

Veritone stock opened at $1.84 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 6.77. Veritone has a 1-year low of $1.22 and a 1-year high of $9.42. The firm's fifty day simple moving average is $3.17 and its 200-day simple moving average is $4.47. The company has a market capitalization of $168.92 million, a P/E ratio of -2.75 and a beta of 2.16.

Hedge Funds Weigh In On Veritone

Large investors have recently made changes to their positions in the business. Royce & Associates LP acquired a new stake in Veritone in the 3rd quarter valued at approximately $2,603,000. Wesbanco Bank Inc. acquired a new position in shares of Veritone during the third quarter worth approximately $241,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Veritone in the third quarter valued at approximately $80,000. State of Wyoming acquired a new stake in shares of Veritone in the fourth quarter worth $25,000. Finally, 683 Capital Management LLC acquired a new stake in shares of Veritone in the fourth quarter worth $891,000. Institutional investors and hedge funds 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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