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

Key Points

• D. Boral Capital has reaffirmed a buy rating for Veritone (NASDAQ:VERI) and set a price target of $25.00, indicating a potential upside of 357.88% from its current price.
• Analysts have mixed views on Veritone, with ratings ranging from sell to strong buy, resulting in an average rating of Moderate Buy and a consensus price target of $9.75.
• Veritone's stock opened at $5.46 and has exhibited significant volatility, with a 52-week low of $1.22 and a high of $6.43.

Veritone (NASDAQ:VERI - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at D. Boral Capital in a note issued to investors on Wednesday,Benzinga reports.

A number of other research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Veritone from a "sell" rating to a "hold" rating in a report on Friday, September 26th. Weiss Ratings restated a "sell (e+)" rating on shares of Veritone in a report on Wednesday, October 8th. Finally, D Boral Capital upgraded shares of Veritone to a "strong-buy" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.00.

Veritone Price Performance

Shares of Veritone stock traded up $3.03 on Wednesday, hitting $8.49. The company's stock had a trading volume of 27,542,710 shares, compared to its average volume of 2,379,725. Veritone has a 52-week low of $1.22 and a 52-week high of $9.42. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 89.57. The firm has a fifty day moving average price of $3.80 and a 200-day moving average price of $2.54. The company has a market capitalization of $502.23 million, a P/E ratio of -10.55 and a beta of 3.23.

Institutional Trading of Veritone

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Connective Capital Management LLC acquired a new stake in Veritone during the 2nd quarter worth approximately $657,000. Geode Capital Management LLC increased its position in Veritone by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 480,842 shares of the company's stock worth $606,000 after purchasing an additional 19,597 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in Veritone during the 2nd quarter worth approximately $27,000. Freedom Investment Management Inc. increased its position in Veritone by 6.3% during the 2nd quarter. Freedom Investment Management Inc. now owns 117,572 shares of the company's stock worth $148,000 after purchasing an additional 6,954 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Veritone during the 1st quarter worth approximately $315,000. 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.