Veritone Inc (NASDAQ:VERI)’s share price fell 8.2% during mid-day trading on Thursday . The company traded as low as $8.56 and last traded at $8.78. 649,281 shares were traded during mid-day trading, a decline of 4% from the average session volume of 676,089 shares. The stock had previously closed at $9.56.

Several equities analysts have issued reports on the stock. JMP Securities assumed coverage on shares of Veritone in a research note on Wednesday, April 3rd. They set an “outperform” rating and a $10.00 target price on the stock. Zacks Investment Research cut shares of Veritone from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Finally, Northland Securities restated a “buy” rating and set a $20.00 target price on shares of Veritone in a research note on Thursday, May 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Veritone currently has a consensus rating of “Hold” and an average price target of $12.75.

The company has a market cap of $173.90 million, a PE ratio of -2.52 and a beta of 2.81.

Veritone (NASDAQ:VERI) last posted its earnings results on Wednesday, May 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.89) by $0.41. The business had revenue of $12.13 million for the quarter, compared to analysts’ expectations of $11.58 million. Veritone had a negative net margin of 185.03% and a negative return on equity of 86.72%. The business’s revenue for the quarter was up 176.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.81) EPS. On average, research analysts expect that Veritone Inc will post -3.27 earnings per share for the current year.

In related news, insider Ryan Steelberg bought 30,376 shares of the stock in a transaction on Friday, May 17th. The shares were acquired at an average price of $8.20 per share, for a total transaction of $249,083.20. Following the purchase, the insider now owns 30,671 shares of the company’s stock, valued at $251,502.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 37.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC lifted its stake 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 during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of Veritone in the 4th quarter worth approximately $52,000. Parametric Portfolio Associates LLC bought a new position in shares of Veritone in the 1st quarter worth approximately $68,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of Veritone in the 4th quarter worth approximately $76,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Veritone by 49.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,863 shares of the company’s stock worth $119,000 after purchasing an additional 7,563 shares during the period. Institutional investors and hedge funds own 21.38% of the company’s stock.

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Veritone Company Profile (NASDAQ:VERI)

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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