Veritone Inc (NASDAQ:VERI) has received an average rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $12.60.
A number of research firms recently issued reports on VERI. BidaskClub cut shares of Veritone from a “buy” rating to a “hold” rating in a research report on Tuesday, July 14th. ValuEngine upgraded shares of Veritone from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. Zacks Investment Research cut shares of Veritone from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Craig Hallum cut shares of Veritone from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a research report on Monday, July 6th. Finally, Roth Capital upped their price objective on shares of Veritone from $7.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th.
In other news, Director Richard H. Taketa acquired 5,000 shares of Veritone stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $8.10 per share, with a total value of $40,500.00. Following the purchase, the director now owns 19,369 shares in the company, valued at approximately $156,888.90. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Ryan Steelberg acquired 14,695 shares of Veritone stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $13.53 per share, for a total transaction of $198,823.35. Following the completion of the purchase, the president now owns 212,633 shares in the company, valued at approximately $2,876,924.49. The disclosure for this purchase can be found here. Insiders have acquired a total of 48,276 shares of company stock worth $556,037 over the last three months. Insiders own 25.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Private Advisor Group LLC bought a new stake in shares of Veritone in the 2nd quarter valued at $46,000. Bank of America Corp DE boosted its stake in shares of Veritone by 1,018.2% in the 2nd quarter. Bank of America Corp DE now owns 18,014 shares of the company’s stock valued at $267,000 after purchasing an additional 16,403 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Veritone by 63.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,297,786 shares of the company’s stock valued at $19,286,000 after purchasing an additional 501,947 shares during the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Veritone by 223.2% in the 2nd quarter. Advisor Group Holdings Inc. now owns 15,350 shares of the company’s stock valued at $228,000 after purchasing an additional 10,600 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Veritone in the 2nd quarter valued at $28,000. 10.59% of the stock is currently owned by institutional investors.
Shares of NASDAQ:VERI traded down $0.09 during midday trading on Friday, hitting $10.82. The stock had a trading volume of 21,627 shares, compared to its average volume of 715,104. The company’s 50-day moving average price is $12.49 and its 200-day moving average price is $7.53. The company has a market capitalization of $306.11 million, a P/E ratio of -5.02 and a beta of 2.54. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $19.67.
Veritone (NASDAQ:VERI) last issued its earnings results on Monday, August 10th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.02. Veritone had a negative net margin of 106.21% and a negative return on equity of 118.65%. As a group, equities research analysts expect that Veritone will post -1.72 earnings per share for the current fiscal year.
Veritone Company Profile
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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