Veritone, Inc.’s (VERI) Lock-Up Period Will End on November 8th

Veritone’s (NASDAQ:VERI) lock-up period will end on Wednesday, November 8th. Veritone had issued 2,500,000 shares in its IPO on May 12th. The total size of the offering was $37,500,000 based on an initial share price of $15.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

VERI has been the topic of several analyst reports. Northland Securities set a $19.00 target price on Veritone and gave the stock a “buy” rating in a report on Wednesday, July 19th. B. Riley reaffirmed a “buy” rating and set a $18.00 target price on shares of Veritone in a report on Friday, August 4th. Zacks Investment Research raised Veritone from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Wednesday, August 9th. Finally, Roth Capital initiated coverage on Veritone in a research report on Friday, August 11th. They set a “buy” rating and a $13.20 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Veritone currently has a consensus rating of “Buy” and a consensus target price of $26.20.

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Veritone (NASDAQ:VERI) last announced its quarterly earnings results on Monday, August 7th. The company reported ($1.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.20) by ($0.13). The firm had revenue of $4.09 million during the quarter, compared to analyst estimates of $2.99 million.

Hedge funds have recently bought and sold shares of the stock. Spark Investment Management LLC purchased a new stake in Veritone in the 2nd quarter valued at approximately $126,000. Vanguard Group Inc. purchased a new stake in Veritone in the 2nd quarter valued at approximately $132,000. Northern Trust Corp purchased a new stake in Veritone in the 2nd quarter valued at approximately $269,000. Perkins Capital Management Inc. purchased a new stake in Veritone in the 2nd quarter valued at approximately $498,000. Finally, White Pine Capital LLC purchased a new stake in Veritone in the 2nd quarter valued at approximately $583,000. 8.59% of the stock is currently owned by hedge funds and other institutional investors.

About Veritone

Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.

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