Equities research analysts at DA Davidson began coverage on shares of Veritone (NASDAQ:VERI) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating and a $25.00 price target on the stock. DA Davidson’s price objective points to a potential upside of 27.75% from the company’s previous close.

VERI has been the subject of several other research reports. Roth Capital cut their price target on Veritone from $62.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. B. Riley cut their price target on Veritone from $15.00 to $10.00 and set a “sell” rating for the company in a research note on Tuesday, February 27th. Zacks Investment Research downgraded Veritone from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Cowen began coverage on Veritone in a research note on Monday, April 23rd. They set an “outperform” rating and a $30.00 price target for the company. Finally, BidaskClub downgraded Veritone from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $21.38.

VERI stock opened at $19.57 on Thursday. Veritone has a fifty-two week low of $7.76 and a fifty-two week high of $74.92.

Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.24). The firm had revenue of $3.49 million for the quarter, compared to the consensus estimate of $4.41 million. Veritone had a negative return on equity of 158.62% and a negative net margin of 413.52%. The firm’s revenue was up 75.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($4.12) EPS. analysts predict that Veritone will post -2.87 earnings per share for the current fiscal year.

In related news, Director G Louis Graziadio III bought 12,400 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was acquired at an average price of $14.60 per share, for a total transaction of $181,040.00. Following the purchase, the director now directly owns 83,349 shares in the company, valued at $1,216,895.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter F. Collins bought 10,000 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was bought at an average price of $14.16 per share, with a total value of $141,600.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 42,400 shares of company stock valued at $690,640.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Veritone by 19.4% in the 4th quarter. BlackRock Inc. now owns 217,379 shares of the company’s stock worth $5,043,000 after purchasing an additional 35,384 shares during the period. Allianz Asset Management GmbH bought a new position in Veritone in the 4th quarter worth about $2,207,000. Sumitomo Mitsui Asset Management Company LTD bought a new position in Veritone in the 4th quarter worth about $2,091,000. Geode Capital Management LLC boosted its stake in Veritone by 37.4% in the 4th quarter. Geode Capital Management LLC now owns 43,486 shares of the company’s stock worth $1,008,000 after purchasing an additional 11,832 shares during the period. Finally, Two Sigma Investments LP bought a new position in Veritone in the 4th quarter worth about $575,000. Institutional investors and hedge funds own 9.83% of the company’s stock.

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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