Veritone Inc (NASDAQ:VERI) has earned a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $29.80.
VERI has been the subject of several research reports. Craig Hallum set a $31.00 target price on shares of Veritone and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Roth Capital reiterated a “buy” rating and issued a $62.00 target price (up from $13.20) on shares of Veritone in a research report on Friday, September 29th. Northland Securities set a $23.00 target price on shares of Veritone and gave the stock a “buy” rating in a research report on Sunday, September 10th. Zacks Investment Research upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, B. Riley reiterated a “sell” rating and issued a $15.00 target price on shares of Veritone in a research report on Thursday, December 21st.
A number of large investors have recently made changes to their positions in VERI. SG Americas Securities LLC purchased a new stake in Veritone during the third quarter valued at about $132,000. Schwab Charles Investment Management Inc. purchased a new stake in Veritone during the third quarter valued at about $205,000. Quantbot Technologies LP purchased a new stake in Veritone during the third quarter valued at about $263,000. First Republic Investment Management Inc. purchased a new stake in Veritone during the third quarter valued at about $272,000. Finally, Wells Fargo & Company MN purchased a new stake in Veritone during the third quarter valued at about $489,000. Institutional investors own 5.72% of the company’s stock.
Veritone (NASDAQ:VERI) last announced its earnings results on Monday, November 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.88). Veritone had a negative return on equity of 1,887.29% and a negative net margin of 416.28%. The company had revenue of $3.72 million during the quarter, compared to analysts’ expectations of $4.95 million. During the same quarter last year, the firm posted ($3.49) earnings per share. The firm’s revenue was up 60.3% on a year-over-year basis. equities research analysts predict that Veritone will post -5.8 earnings per share for the current fiscal year.
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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