Veritone Inc (NASDAQ:VERI) has earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $13.33.

A number of equities analysts recently commented on the company. JMP Securities assumed coverage on Veritone in a research note on Wednesday, April 3rd. They issued an “outperform” rating and a $10.00 price objective on the stock. Zacks Investment Research lowered Veritone from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Veritone in a research note on Thursday, May 9th.

Shares of Veritone stock traded up $0.32 during midday trading on Monday, reaching $8.66. The company had a trading volume of 442,584 shares, compared to its average volume of 466,517. The firm has a market cap of $169.66 million, a P/E ratio of -2.49 and a beta of 1.63. Veritone has a fifty-two week low of $3.65 and a fifty-two week high of $18.62.

Veritone (NASDAQ:VERI) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.48) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $0.41. The company had revenue of $12.13 million for the quarter, compared to analyst estimates of $11.58 million. Veritone had a negative return on equity of 86.72% and a negative net margin of 185.03%. The firm’s quarterly revenue was up 176.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.81) earnings per share. As a group, analysts predict that Veritone will post -3.27 EPS for the current year.

In other Veritone news, insider Ryan Steelberg bought 30,376 shares of the stock in a transaction on Friday, May 17th. The stock was acquired at an average cost of $8.20 per share, for a total transaction of $249,083.20. Following the completion of the acquisition, the insider now owns 30,671 shares in the company, valued at approximately $251,502.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Taketa bought 9,021 shares of the stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $7.49 per share, with a total value of $67,567.29. Following the completion of the acquisition, the director now owns 9,887 shares of the company’s stock, valued at approximately $74,053.63. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 111,142 shares of company stock valued at $915,168. 37.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of VERI. Spark Investment Management LLC increased its holdings in shares of Veritone by 17.4% in the 1st quarter. Spark Investment Management LLC now owns 45,427 shares of the company’s stock worth $236,000 after purchasing an additional 6,727 shares in the last quarter. Vanguard Capital Wealth Advisors bought a new stake in shares of Veritone in the 1st quarter worth $187,000. Perkins Capital Management Inc. bought a new stake in shares of Veritone in the 1st quarter worth $1,274,000. Barclays PLC increased its holdings in shares of Veritone by 2,915.0% in the 4th quarter. Barclays PLC now owns 7,447 shares of the company’s stock worth $28,000 after purchasing an additional 7,200 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. bought a new stake in shares of Veritone in the 4th quarter worth $979,000. Institutional investors and hedge funds own 17.93% of the company’s stock.

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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