Veritone (NASDAQ:VERI) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday.
Other analysts have also issued research reports about the company. Craig Hallum set a $31.00 price target on Veritone and gave the company a “buy” rating in a report on Wednesday, November 22nd. Roth Capital reissued a “buy” rating and set a $62.00 price target (up previously from $13.20) on shares of Veritone in a report on Friday, September 29th. Zacks Investment Research raised Veritone from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, B. Riley reaffirmed a “sell” rating and issued a $15.00 price objective on shares of Veritone in a research note on Thursday, December 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $26.50.
Veritone (VERI) traded down $0.20 during trading hours on Thursday, reaching $23.18. The company’s stock had a trading volume of 112,300 shares, compared to its average volume of 729,914. Veritone has a twelve month low of $7.76 and a twelve month high of $74.92. The company has a market capitalization of $346.71 and a price-to-earnings ratio of -4.28.
Veritone (NASDAQ:VERI) last released its quarterly earnings results on Monday, November 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.88). Veritone had a negative net margin of 416.28% and a negative return on equity of 1,887.29%. The company had revenue of $3.72 million for the quarter, compared to the consensus estimate of $4.95 million. During the same period in the prior year, the firm posted ($3.49) EPS. The business’s revenue for the quarter was up 60.3% on a year-over-year basis. research analysts forecast that Veritone will post -5.8 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of Veritone in the third quarter worth about $263,000. First Republic Investment Management Inc. bought a new position in shares of Veritone in the third quarter worth about $272,000. Jane Street Group LLC bought a new position in shares of Veritone in the third quarter worth about $1,107,000. B. Riley Financial Inc. bought a new position in shares of Veritone in the second quarter worth about $2,022,000. Finally, FNY Managed Accounts LLC bought a new position in shares of Veritone in the third quarter worth about $521,000. 5.72% of the stock is owned by hedge funds and other institutional investors.
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Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.
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