Veritone (VERI) Downgraded to “Sell” at Zacks Investment Research

Veritone (NASDAQ:VERI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Veritone, Inc. is an artificial intelligence company. It developed the Veritone Platform, which unlocks the power of AI-based cognitive computing to transform and analyze unstructured public and private audio and video data for clients in the media, politics, legal and law enforcement industries. Veritone, Inc. is based in Newport Beach, United States. “

VERI has been the subject of several other research reports. B. Riley cut shares of Veritone from a “buy” rating to a “sell” rating and dropped their price target for the company from $18.00 to $15.00 in a research report on Tuesday, November 7th. Craig Hallum set a $31.00 price target on shares of Veritone and gave the company a “buy” rating in a research report on Wednesday, November 22nd. BidaskClub raised shares of Veritone from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 24th. Finally, Roth Capital dropped their price target on shares of Veritone from $62.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $21.50.

Shares of Veritone (NASDAQ:VERI) traded up $0.34 on Friday, reaching $14.66. 158,500 shares of the company’s stock traded hands, compared to its average volume of 309,676. Veritone has a fifty-two week low of $7.76 and a fifty-two week high of $74.92.

A number of institutional investors and hedge funds have recently made changes to their positions in VERI. SG Americas Securities LLC purchased a new stake in Veritone during the 3rd quarter valued at $132,000. Vanguard Group Inc. bought a new position in Veritone in the 2nd quarter worth $132,000. Schwab Charles Investment Management Inc. bought a new position in Veritone in the 3rd quarter worth $205,000. Mycio Wealth Partners LLC bought a new position in Veritone in the 4th quarter worth $255,000. Finally, Quantbot Technologies LP bought a new position in Veritone in the 3rd quarter worth $263,000. 8.37% of the stock is owned by institutional investors and hedge funds.

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About Veritone

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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