Veritone (NASDAQ:VERI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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. “
Other analysts have also issued reports about the company. Craig Hallum reissued a “buy” rating and set a $23.00 target price (down from $31.00) on shares of Veritone in a report on Tuesday, February 27th. Roth Capital reduced their target price on Veritone from $62.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. B. Riley reissued a “sell” rating and set a $15.00 target price on shares of Veritone in a report on Thursday, December 21st. Finally, BidaskClub upgraded Veritone from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.33.
VERI opened at $17.05 on Friday. The firm has a market cap of $277.57 and a PE ratio of -3.71. Veritone has a 52-week low of $7.76 and a 52-week high of $74.92.
Veritone (NASDAQ:VERI) last released its earnings results on Monday, February 26th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.24). The company had revenue of $3.49 million for the quarter, compared to analyst estimates of $4.41 million. Veritone had a negative return on equity of 158.62% and a negative net margin of 413.52%. The business’s revenue for the quarter was up 75.4% compared to the same quarter last year. During the same period last year, the company posted ($4.12) earnings per share. research analysts anticipate that Veritone will post -2.92 earnings per share for the current year.
In other Veritone news, CFO Peter F. Collins acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was acquired at an average cost of $14.16 per share, for a total transaction of $141,600.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director G Louis Graziadio III acquired 12,400 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The shares were acquired at an average price of $14.60 per share, with a total value of $181,040.00. Following the completion of the transaction, the director now owns 83,349 shares in the company, valued at $1,216,895.40. The disclosure for this purchase can be found here.
Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Veritone during the 3rd quarter worth $132,000. Millennium Management LLC lifted its position in shares of Veritone by 16.8% during the 4th quarter. Millennium Management LLC now owns 21,944 shares of the company’s stock worth $509,000 after buying an additional 3,149 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of Veritone during the 3rd quarter worth $205,000. Bank of Montreal Can lifted its position in shares of Veritone by 460.8% during the 4th quarter. Bank of Montreal Can now owns 12,118 shares of the company’s stock worth $281,000 after buying an additional 9,957 shares during the last quarter. Finally, Wells Fargo & Company MN bought a new stake in shares of Veritone during the 3rd quarter worth $489,000. Institutional investors and hedge funds own 9.90% of the company’s stock.
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Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.
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