Veritone (NASDAQ:VERI) Shares Pass Below Fifty Day Moving Average – What’s Next?

Shares of Veritone, Inc. (NASDAQ:VERI) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.27 and traded as low as $1.93. Veritone shares last traded at $1.94, with a volume of 1,967,904 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VERI shares. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Veritone in a report on Monday, March 30th. D. Boral Capital reiterated a “buy” rating and issued a $8.00 target price on shares of Veritone in a report on Wednesday, April 15th. Wall Street Zen downgraded shares of Veritone from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Veritone in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Veritone Stock Down 3.0%

The business has a 50-day moving average price of $2.27 and a two-hundred day moving average price of $3.63. The firm has a market cap of $180.34 million, a PE ratio of -3.23 and a beta of 2.25.

Veritone (NASDAQ:VERI) last posted its quarterly earnings data on Wednesday, April 15th. The company reported $999.00 earnings per share for the quarter. Veritone had a negative return on equity of 198.79% and a negative net margin of 117.88%. On average, equities research analysts predict that Veritone, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of Veritone

A number of large investors have recently modified their holdings of VERI. Royce & Associates LP acquired a new position in shares of Veritone during the third quarter worth $2,603,000. Wesbanco Bank Inc. acquired a new position in Veritone in the third quarter valued at $241,000. Hudson Bay Capital Management LP acquired a new position in Veritone in the fourth quarter valued at $548,000. Virtu Financial LLC purchased a new stake in shares of Veritone in the third quarter valued at about $484,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Veritone in the third quarter valued at about $82,000. Hedge funds and other institutional investors own 39.18% of the company’s stock.

About Veritone

Veritone, Inc (NASDAQ: VERI) is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.