Veritone (NASDAQ:VERI) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Tuesday, April 10th.
A number of other equities analysts also recently commented on the stock. B. Riley cut their target price on shares of Veritone from $15.00 to $10.00 and set a “sell” rating on the stock in a research note on Tuesday, February 27th. Craig Hallum reissued a “buy” rating and issued a $23.00 target price (down previously from $31.00) on shares of Veritone in a research note on Tuesday, February 27th. Roth Capital dropped their price target on shares of Veritone from $62.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Veritone in a research note on Saturday, January 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $19.33.
Shares of NASDAQ VERI opened at $17.05 on Tuesday. Veritone has a 1 year low of $7.76 and a 1 year high of $74.92. The company has a market cap of $274.98 and a P/E ratio of -3.71.
Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.83) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.24). The company had revenue of $3.49 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business earned ($4.12) EPS. analysts forecast that Veritone will post -2.92 EPS for the current year.
In other Veritone news, Director G Louis Graziadio III purchased 12,400 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The stock was acquired at an average cost of $14.60 per share, with a total value of $181,040.00. Following the acquisition, the director now owns 83,349 shares of the company’s stock, valued at approximately $1,216,895.40. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Peter F. Collins purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was acquired at an average cost of $14.16 per share, with a total value of $141,600.00. The disclosure for this purchase can be found here.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in shares of Veritone in the 3rd quarter valued at about $666,000. Wells Fargo & Company MN acquired a new position in shares of Veritone in the 3rd quarter valued at about $489,000. First Republic Investment Management Inc. bought a new stake in Veritone in the 3rd quarter valued at about $272,000. Jane Street Group LLC bought a new stake in Veritone in the 3rd quarter valued at about $1,107,000. Finally, Mycio Wealth Partners LLC bought a new stake in Veritone in the 4th quarter valued at about $255,000. 9.90% of the stock is owned by institutional investors and hedge funds.
Veritone Company Profile
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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