B. Riley Lowers Veritone, Inc. (VERI) to Sell
B. Riley cut shares of Veritone, Inc. (NASDAQ:VERI) from a buy rating to a sell rating in a research note published on Tuesday morning, Marketbeat.com reports. They currently have $15.00 target price on the stock, down from their prior target price of $18.00. B. Riley also issued estimates for Veritone’s Q3 2017 earnings at ($0.58) EPS, Q4 2017 earnings at ($0.58) EPS, Q4 2017 earnings at ($0.61) EPS, Q1 2018 earnings at ($0.64) EPS, Q1 2018 earnings at ($0.60) EPS, Q2 2018 earnings at ($0.64) EPS, Q2 2018 earnings at ($0.51) EPS, Q3 2018 earnings at ($0.61) EPS, Q3 2018 earnings at ($0.54) EPS, Q4 2018 earnings at ($0.54) EPS, Q4 2018 earnings at ($0.45) EPS, FY2018 earnings at ($2.10) EPS, FY2018 earnings at ($2.43) EPS, FY2019 earnings at ($1.91) EPS and FY2019 earnings at ($1.76) EPS.
A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Veritone from a hold rating to a sell rating in a report on Saturday, September 2nd. Northland Securities set a $19.00 price objective on Veritone and gave the stock a buy rating in a research note on Monday, August 28th. Finally, Roth Capital reaffirmed a buy rating and issued a $62.00 price objective (up previously from $13.20) on shares of Veritone in a research note on Friday, September 29th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $25.60.
Veritone (NASDAQ VERI) traded down $3.53 during midday trading on Tuesday, reaching $22.07. The company had a trading volume of 495,900 shares, compared to its average volume of 427,351. Veritone has a one year low of $7.76 and a one year high of $74.92.
Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Monday, November 6th. The company reported ($1.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.88). Veritone had a negative return on equity of 150.36% and a negative net margin of 520.81%. The business had revenue of $3.72 million during the quarter, compared to analysts’ expectations of $4.95 million. During the same period in the prior year, the firm posted ($3.49) earnings per share. The firm’s revenue for the quarter was up 60.3% on a year-over-year basis. analysts anticipate that Veritone will post -5.22 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Veritone during the 3rd quarter valued at approximately $132,000. Quantbot Technologies LP bought a new position in shares of Veritone during the 3rd quarter valued at approximately $263,000. Wells Fargo & Company MN bought a new position in shares of Veritone during the 3rd quarter valued at approximately $489,000. Spark Investment Management LLC bought a new position in shares of Veritone during the 2nd quarter valued at approximately $126,000. Finally, Vanguard Group Inc. bought a new position in Veritone in the 2nd quarter valued at $132,000. 8.28% of the stock is currently owned by hedge funds and other institutional investors.
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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