Veritone (NASDAQ:VERI) Stock Rating Lowered by Wall Street Zen

Key Points

• Veritone (NASDAQ:VERI) has been downgraded by Wall Street Zen from a "hold" to a "sell" rating, highlighting a shift in investor sentiment.
• The consensus rating for Veritone currently stands at "Moderate Buy," with an average price target of $5.00 despite varied ratings from multiple analysts.
• Recent institutional investments show a growing interest in Veritone, with hedge funds owning 39.18% of the company's stock.

Veritone (NASDAQ:VERI - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

VERI has been the subject of several other reports. D. Boral Capital restated a "buy" rating on shares of Veritone in a report on Wednesday. Weiss Ratings restated a "sell (e+)" rating on shares of Veritone in a report on Wednesday, October 8th. Finally, D Boral Capital upgraded Veritone to a "strong-buy" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5.00.

Veritone Stock Performance

VERI stock opened at $6.25 on Friday. The company has a debt-to-equity ratio of 89.57, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50-day moving average price of $4.08 and a 200 day moving average price of $2.64. The company has a market capitalization of $369.81 million, a P/E ratio of -7.53 and a beta of 3.23. Veritone has a 1-year low of $1.22 and a 1-year high of $9.42.

Hedge Funds Weigh In On Veritone

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ground Swell Capital LLC purchased a new position in Veritone in the second quarter valued at about $27,000. Virtu Financial LLC purchased a new position in Veritone in the first quarter valued at about $30,000. Capital Advisors Inc. OK purchased a new position in Veritone in the first quarter valued at about $70,000. NBZ Investment Advisors LLC purchased a new stake in shares of Veritone during the first quarter worth about $86,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Veritone during the first quarter worth about $102,000. Hedge funds and other institutional investors 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.

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