Veritone (VERI) Trading Up 6.1%
Veritone Inc (NASDAQ:VERI) was up 6.1% during mid-day trading on Monday . The company traded as high as $24.08 and last traded at $22.70. Approximately 696,020 shares traded hands during trading, an increase of 32% from the average daily volume of 525,429 shares. The stock had previously closed at $21.40.
A number of equities research analysts have issued reports on VERI shares. Craig Hallum set a $31.00 price target on shares of Veritone and gave the company a “buy” rating in a report on Wednesday, November 22nd. Northland Securities set a $19.00 price target on shares of Veritone and gave the company a “buy” rating in a report on Monday, August 28th. Roth Capital restated a “buy” rating and set a $62.00 price target (up from $13.20) on shares of Veritone in a report on Friday, September 29th. Zacks Investment Research upgraded shares of Veritone from a “sell” rating to a “hold” rating in a report on Saturday, September 23rd. Finally, B. Riley reaffirmed a “sell” rating and set a $15.00 price objective on shares of Veritone in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Veritone has an average rating of “Buy” and a consensus target price of $26.50.
Veritone (NASDAQ:VERI) last announced its quarterly earnings data on Monday, November 6th. The company reported ($1.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.88). The company had revenue of $3.72 million for the quarter, compared to analyst estimates of $4.95 million. Veritone had a negative net margin of 416.28% and a negative return on equity of 1,887.29%. The firm’s quarterly revenue was up 60.3% on a year-over-year basis. During the same period in the prior year, the company posted ($3.49) EPS. equities research analysts expect that Veritone Inc will post -5.64 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of Veritone during the third quarter valued at about $1,107,000. First Republic Investment Management Inc. acquired a new position in Veritone in the third quarter worth about $272,000. Schwab Charles Investment Management Inc. acquired a new position in Veritone in the third quarter worth about $205,000. Wells Fargo & Company MN acquired a new position in Veritone in the third quarter worth about $489,000. Finally, FNY Managed Accounts LLC acquired a new position in Veritone in the third quarter worth about $521,000. 5.72% of the stock is owned by institutional investors and hedge funds.
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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