Veritone (NASDAQ:VERI)‘s stock had its “buy” rating reaffirmed by research analysts at Northland Securities in a research note issued to investors on Thursday, AnalystRatings.com reports. They presently have a $10.00 price objective on the stock. Northland Securities’ target price would indicate a potential upside of 274.53% from the stock’s current price.
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A number of other research firms have also weighed in on VERI. ValuEngine raised shares of Veritone from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of Veritone from a “buy” rating to a “hold” rating in a research report on Saturday, October 12th. Finally, Craig Hallum lowered shares of Veritone from a “buy” rating to a “hold” rating and cut their price objective for the company from $14.00 to $3.00 in a research report on Thursday. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Veritone currently has a consensus rating of “Buy” and an average target price of $8.82.
NASDAQ:VERI traded up $0.01 during midday trading on Thursday, hitting $2.67. 239,000 shares of the company were exchanged, compared to its average volume of 556,325. The company has a market capitalization of $59.11 million, a PE ratio of -0.77 and a beta of 1.37. The company has a fifty day simple moving average of $3.17 and a 200 day simple moving average of $5.90. Veritone has a fifty-two week low of $2.43 and a fifty-two week high of $9.98.
Veritone (NASDAQ:VERI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.35. The company had revenue of $12.81 million during the quarter, compared to analysts’ expectations of $12.75 million. Veritone had a negative net margin of 155.58% and a negative return on equity of 96.89%. The firm’s quarterly revenue was up 69.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.46) earnings per share. On average, equities analysts anticipate that Veritone will post -3.16 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Veritone by 28.7% in the second quarter. Vanguard Group Inc. now owns 526,872 shares of the company’s stock valued at $4,405,000 after buying an additional 117,586 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Veritone by 26.3% in the 2nd quarter. Northern Trust Corp now owns 123,846 shares of the company’s stock worth $1,036,000 after acquiring an additional 25,751 shares during the period. Creative Planning acquired a new stake in shares of Veritone in the 3rd quarter worth about $361,000. MML Investors Services LLC increased its holdings in shares of Veritone by 78.6% in the 2nd quarter. MML Investors Services LLC now owns 99,850 shares of the company’s stock worth $835,000 after acquiring an additional 43,950 shares during the period. Finally, Vanguard Capital Wealth Advisors increased its holdings in shares of Veritone by 133.1% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 84,150 shares of the company’s stock worth $703,000 after acquiring an additional 48,050 shares during the period. 18.00% of the stock is owned by institutional investors and hedge funds.
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.