Veritone (NASDAQ:VERI) Rating Lowered to Hold at BidaskClub

Veritone (NASDAQ:VERI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, BidAskClub reports.

VERI has been the subject of several other research reports. Roth Capital boosted their price objective on shares of Veritone from $7.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Craig Hallum lowered shares of Veritone from a “hold” rating to a “sell” rating and set a $6.00 price target on the stock. in a research note on Monday, July 6th. Zacks Investment Research upgraded shares of Veritone from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research note on Saturday, May 16th. JMP Securities upped their price target on shares of Veritone from $7.00 to $9.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 12th. Finally, DA Davidson upped their price target on shares of Veritone from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $11.79.

NASDAQ VERI opened at $11.39 on Tuesday. The firm has a market cap of $309.47 million, a PE ratio of -4.52 and a beta of 2.78. The company has a 50 day moving average price of $13.57 and a 200 day moving average price of $5.91. Veritone has a 52 week low of $1.22 and a 52 week high of $19.67.

Veritone (NASDAQ:VERI) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. The firm had revenue of $11.90 million during the quarter, compared to analyst estimates of $12.64 million. Veritone had a negative net margin of 118.27% and a negative return on equity of 119.92%. Analysts anticipate that Veritone will post -1.73 EPS for the current year.

In other Veritone news, President Ryan Steelberg acquired 16,701 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $11.95 per share, with a total value of $199,576.95. Following the acquisition, the president now directly owns 72,633 shares of the company’s stock, valued at $867,964.35. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard H. Taketa acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $8.10 per share, for a total transaction of $40,500.00. Following the completion of the acquisition, the director now directly owns 19,369 shares in the company, valued at $156,888.90. The disclosure for this purchase can be found here. Insiders bought a total of 48,276 shares of company stock worth $556,037 over the last ninety days. Insiders own 25.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in VERI. Dynamic Technology Lab Private Ltd purchased a new stake in Veritone during the fourth quarter worth $33,000. MML Investors Services LLC boosted its holdings in Veritone by 11.4% during the first quarter. MML Investors Services LLC now owns 19,500 shares of the company’s stock worth $45,000 after buying an additional 2,000 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Veritone by 180.4% during the first quarter. Wells Fargo & Company MN now owns 19,630 shares of the company’s stock worth $45,000 after buying an additional 12,630 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Veritone during the second quarter worth $45,000. Finally, UBS Group AG boosted its holdings in Veritone by 11.6% during the first quarter. UBS Group AG now owns 35,238 shares of the company’s stock worth $82,000 after buying an additional 3,673 shares in the last quarter. 10.59% of the stock is currently owned by hedge funds and other institutional investors.

About Veritone

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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Analyst Recommendations for Veritone (NASDAQ:VERI)

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