Veritone (NASDAQ:VERI) Stock Rating Upgraded by Wall Street Zen

Veritone (NASDAQ:VERI) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

A number of other brokerages have also weighed in on VERI. Weiss Ratings lowered shares of Veritone from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 15th. UBS Group began coverage on shares of Veritone in a research report on Monday, June 1st. They issued a “neutral” rating and a $2.50 target price on the stock. Finally, D. Boral Capital reiterated a “buy” rating and issued a $8.00 target price on shares of Veritone in a research report on Wednesday, April 15th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Veritone currently has an average rating of “Hold” and a consensus price target of $7.38.

Veritone Price Performance

Shares of NASDAQ VERI opened at $1.09 on Friday. Veritone has a one year low of $0.98 and a one year high of $9.42. The firm’s 50 day simple moving average is $1.42 and its two-hundred day simple moving average is $2.29. The stock has a market capitalization of $101.32 million, a P/E ratio of -2.37 and a beta of 2.29.

Institutional Trading of Veritone

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Banta Asset Management LP bought a new position in shares of Veritone in the fourth quarter worth approximately $12,268,000. Themes Management Co LLC bought a new stake in Veritone during the 4th quarter valued at $2,750,000. Royce & Associates LP raised its holdings in Veritone by 60.4% during the 4th quarter. Royce & Associates LP now owns 866,000 shares of the company’s stock valued at $4,027,000 after buying an additional 326,000 shares during the last quarter. Perkins Capital Management Inc. purchased a new stake in Veritone during the 4th quarter valued at $817,000. Finally, Farther Finance Advisors LLC grew its holdings in Veritone by 17.3% in the 4th quarter. Farther Finance Advisors LLC now owns 44,090 shares of the company’s stock worth $205,000 after acquiring an additional 6,500 shares during the last quarter. Institutional investors own 39.18% of the company’s stock.

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.