Veritone (VERI) Shares Up 23.5%
Veritone, Inc. (NASDAQ:VERI) shares shot up 23.5% on Wednesday . The company traded as high as $27.89 and last traded at $27.51. 2,978,000 shares traded hands during trading, an increase of 489% from the average session volume of 505,182 shares. The stock had previously closed at $22.27.
Several research firms recently weighed in on VERI. Craig Hallum set a $31.00 price objective on Veritone and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. B. Riley reiterated a “sell” rating and set a $15.00 price target on shares of Veritone in a research note on Wednesday, November 15th. Zacks Investment Research lowered Veritone from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. Roth Capital restated a “buy” rating and set a $62.00 price target (up from $13.20) on shares of Veritone in a research report on Friday, September 29th. Finally, Northland Securities set a $23.00 price objective on Veritone and gave the company a “buy” rating in a research report on Sunday, September 10th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $26.50.
Veritone (NASDAQ:VERI) last issued its earnings results on Monday, November 6th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.88). The business had revenue of $3.72 million during the quarter, compared to analysts’ expectations of $4.95 million. Veritone had a negative return on equity of 1,887.29% and a negative net margin of 416.28%. Veritone’s revenue for the quarter was up 60.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.49) EPS. research analysts expect that Veritone, Inc. will post -5.8 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in Veritone during the 3rd quarter worth $1,107,000. First Republic Investment Management Inc. acquired a new position in Veritone in the third quarter valued at approximately $272,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Veritone during the third quarter worth approximately $205,000. Wells Fargo & Company MN purchased a new position in Veritone in the third quarter worth $489,000. Finally, FNY Managed Accounts LLC purchased a new position in Veritone in the third quarter worth $521,000. Institutional investors own 5.72% of the company’s stock.
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Veritone Company Profile
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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