Veritone’s (VERI) “Buy” Rating Reiterated at HC Wainwright

Veritone (NASDAQ:VERI)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $9.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 389.13% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veritone in a report on Wednesday, January 21st. Wall Street Zen lowered Veritone from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. D. Boral Capital restated a “buy” rating and set a $14.00 price objective on shares of Veritone in a research report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of Veritone in a research note on Tuesday, December 2nd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.75.

Veritone Price Performance

Shares of VERI opened at $1.84 on Monday. The company has a debt-to-equity ratio of 6.77, a quick ratio of 1.31 and a current ratio of 1.31. The company has a 50-day simple moving average of $3.17 and a 200-day simple moving average of $4.47. Veritone has a 52 week low of $1.22 and a 52 week high of $9.42. The firm has a market capitalization of $168.92 million, a P/E ratio of -2.75 and a beta of 2.16.

Institutional Investors Weigh In On Veritone

Several large investors have recently modified their holdings of the stock. Inspire Investing LLC acquired a new position in shares of Veritone in the 4th quarter worth approximately $472,000. Balyasny Asset Management L.P. acquired a new stake in Veritone in the 4th quarter valued at $630,000. 683 Capital Management LLC acquired a new stake in Veritone in the 4th quarter valued at $891,000. Schonfeld Strategic Advisors LLC bought a new stake in Veritone in the fourth quarter valued at $717,000. Finally, Jain Global LLC bought a new stake in Veritone in the fourth quarter valued at $122,000. 39.18% of the stock is currently owned by institutional investors.

Veritone Company Profile

Veritone, Inc (NASDAQ: VERI) is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.