Veritone (VERI) Research Coverage Started at Cowen

Cowen started coverage on shares of Veritone (NASDAQ:VERI) in a report published on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $30.00 target price on the stock.

A number of other brokerages also recently weighed in on VERI. Craig Hallum reaffirmed a buy rating and issued a $23.00 target price (down from $31.00) on shares of Veritone in a research note on Tuesday, February 27th. BidaskClub downgraded shares of Veritone from a sell rating to a strong sell rating in a research note on Sunday, February 4th. Zacks Investment Research reaffirmed a hold rating on shares of Veritone in a research note on Saturday, January 13th. B. Riley dropped their target price on shares of Veritone from $15.00 to $10.00 and set a sell rating for the company in a research note on Tuesday, February 27th. Finally, Roth Capital dropped their target price on shares of Veritone from $62.00 to $32.00 and set a buy rating for the company in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $20.86.

NASDAQ:VERI opened at $16.87 on Monday. The stock has a market capitalization of $285.52 and a price-to-earnings ratio of -3.68. Veritone has a 12 month low of $7.76 and a 12 month high of $74.92.

Veritone (NASDAQ:VERI) last announced its earnings results on Monday, February 26th. The company reported ($0.83) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.24). Veritone had a negative return on equity of 158.62% and a negative net margin of 413.52%. The company had revenue of $3.49 million during the quarter, compared to the consensus estimate of $4.41 million. During the same period in the prior year, the firm posted ($4.12) earnings per share. The company’s revenue was up 75.4% on a year-over-year basis. equities research analysts predict that Veritone will post -2.92 EPS for the current year.

In other Veritone news, CFO Peter F. Collins purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was acquired at an average cost of $14.16 per share, with a total value of $141,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G Louis Graziadio III purchased 12,400 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The shares were acquired at an average cost of $14.60 per share, with a total value of $181,040.00. Following the completion of the purchase, the director now owns 83,349 shares of the company’s stock, valued at $1,216,895.40. The disclosure for this purchase can be found here.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its stake in shares of Veritone by 16.8% during the fourth quarter. Millennium Management LLC now owns 21,944 shares of the company’s stock worth $509,000 after buying an additional 3,149 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Veritone by 311.0% during the fourth quarter. TIAA CREF Investment Management LLC now owns 17,841 shares of the company’s stock worth $414,000 after buying an additional 13,500 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Veritone during the fourth quarter worth approximately $575,000. MYDA Advisors LLC bought a new stake in shares of Veritone during the fourth quarter worth approximately $557,000. Finally, Geode Capital Management LLC raised its stake in shares of Veritone by 37.4% during the fourth quarter. Geode Capital Management LLC now owns 43,486 shares of the company’s stock worth $1,008,000 after buying an additional 11,832 shares during the last quarter. 9.83% of the stock is owned by institutional investors and hedge funds.

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Veritone Company Profile

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.

Analyst Recommendations for Veritone (NASDAQ:VERI)

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