Shares of Veritone Inc (NASDAQ:VERI) have been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.50.
Several equities research analysts have issued reports on VERI shares. B. Riley lowered their price target on Veritone and set a “sell” rating for the company in a report on Tuesday, August 14th. BidaskClub downgraded Veritone from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Roth Capital lowered their price target on Veritone from $27.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, August 14th. Finally, Zacks Investment Research upgraded Veritone from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a report on Wednesday, October 17th.
NASDAQ:VERI opened at $7.26 on Friday. Veritone has a 1-year low of $6.50 and a 1-year high of $34.41. The stock has a market capitalization of $148.78 million, a price-to-earnings ratio of -1.58 and a beta of 1.26.
Veritone (NASDAQ:VERI) last released its earnings results on Monday, August 13th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.03). Veritone had a negative net margin of 377.44% and a negative return on equity of 102.30%. The company had revenue of $4.20 million during the quarter, compared to analyst estimates of $4.92 million. Veritone’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts expect that Veritone will post -3.22 EPS for the current fiscal year.
In other news, Director G Louis Graziadio III acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was acquired at an average cost of $10.44 per share, for a total transaction of $52,200.00. Following the completion of the acquisition, the director now owns 98,308 shares in the company, valued at $1,026,335.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Research Corp Acacia sold 1,000,000 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $10.50, for a total value of $10,500,000.00. Following the transaction, the insider now owns 3,119,520 shares of the company’s stock, valued at $32,754,960. The disclosure for this sale can be found here. Insiders acquired 19,000 shares of company stock valued at $196,030 over the last 90 days. Corporate insiders own 37.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Global X Management Co LLC bought a new position in shares of Veritone during the second quarter worth about $989,000. Allianz Asset Management GmbH grew its holdings in shares of Veritone by 11.0% during the first quarter. Allianz Asset Management GmbH now owns 105,570 shares of the company’s stock worth $1,470,000 after buying an additional 10,440 shares in the last quarter. Herald Investment Management Ltd grew its holdings in shares of Veritone by 125.0% during the second quarter. Herald Investment Management Ltd now owns 90,000 shares of the company’s stock worth $1,510,000 after buying an additional 50,000 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Veritone by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 23,679 shares of the company’s stock worth $398,000 after buying an additional 5,754 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Veritone by 494.2% during the first quarter. UBS Group AG now owns 19,212 shares of the company’s stock worth $267,000 after buying an additional 15,979 shares in the last quarter. Institutional investors and hedge funds own 16.85% of the company’s stock.
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.
Further Reading: Return on Equity (ROE)
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