Veritone (NASDAQ:VERI) Upgraded at Wall Street Zen

Key Points

• Veritone has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more positive outlook on the stock.
• The company currently has an average stock rating of "Buy" with a consensus target price of $5.00, as reported by multiple analysts.
• Recent hedge fund activity shows increased interest in Veritone, with institutional investors now owning 39.18% of the company's stock.

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

Several other equities research analysts have also issued reports on VERI. D. Boral Capital reaffirmed a "buy" rating and set a $6.00 price target on shares of Veritone in a research note on Tuesday, September 2nd. D Boral Capital raised 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 given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $5.00.

Veritone Stock Performance

Veritone stock opened at $5.08 on Friday. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $6.43. The company has a debt-to-equity ratio of 89.57, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $300.58 million, a P/E ratio of -6.12 and a beta of 3.05. The firm's fifty day moving average price is $3.14 and its 200-day moving average price is $2.34.

Hedge Funds Weigh In On Veritone

Hedge funds have recently modified their holdings of the company. Ground Swell Capital LLC purchased a new stake in shares of Veritone during the second quarter worth about $27,000. Virtu Financial LLC bought a new position in Veritone during the 1st quarter valued at approximately $30,000. Capital Advisors Inc. OK purchased a new stake in Veritone in the 1st quarter worth approximately $70,000. NBZ Investment Advisors LLC bought a new stake in shares of Veritone in the 1st quarter worth approximately $86,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Veritone in the 1st quarter worth approximately $102,000. Hedge funds and other institutional investors 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.

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