Veritone, Inc. (NASDAQ:VERI) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Veritone, Inc. (NASDAQ:VERI) have been assigned a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.12.

VERI has been the topic of several analyst reports. Weiss Ratings raised Veritone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 9th. Wall Street Zen raised Veritone from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating on shares of Veritone in a report on Tuesday, October 27th.

Veritone Trading Up 1.8%

Shares of VERI stock opened at $0.56 on Thursday. The stock’s fifty day simple moving average is $0.83 and its 200-day simple moving average is $1.79. Veritone has a 1-year low of $0.51 and a 1-year high of $6.90. The company has a market capitalization of $57.38 million, a price-to-earnings ratio of -1.49 and a beta of 2.33.

Veritone (NASDAQ:VERI) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $24.26 million during the quarter, compared to the consensus estimate of $28.29 million. Veritone had a negative return on equity of 159.15% and a negative net margin of 111.90%.

Insider Transactions at Veritone

In other Veritone news, CEO Ryan Steelberg purchased 148,810 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average price of $0.85 per share, with a total value of $126,488.50. Following the completion of the purchase, the chief executive officer directly owned 730,284 shares in the company, valued at $620,741.40. This trade represents a 25.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of VERI. Citizens Financial Group Inc. RI raised its stake in shares of Veritone by 106.4% in the third quarter. Citizens Financial Group Inc. RI now owns 56,223 shares of the company’s stock worth $67,000 after purchasing an additional 28,981 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in Veritone during the 2nd quarter valued at approximately $38,000. Bank of America Corp DE acquired a new position in Veritone during the second quarter valued at $185,000. Quantbot Technologies LP purchased a new stake in shares of Veritone in the second quarter worth about $181,000. Finally, BlackRock Inc. purchased a new stake in Veritone in the 2nd quarter worth approximately $9,003,000. Institutional investors own 39.18% of the company’s stock.

Veritone Company Profile

Veritone, Inc (NASDAQ: VERI) is an artificial intelligence technology company that develops software for organizing, analyzing and generating insights from large volumes of data. Its platform is designed to help organizations apply AI to audio, video, text and other data sources across business and public-sector applications.

The company’s primary technology platform, aiWARE, provides access to a broad range of AI models and tools through a unified operating environment. Veritone also offers solutions for digital media management, including tools that help media organizations, sports teams and other content owners manage, search, monetize and distribute audio and video assets.