Veritone (NASDAQ:VERI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Veritone (NASDAQ:VERI) from a strong sell rating to a sell rating in a research note published on Saturday.

Several other research firms also recently weighed in on VERI. UBS Group assumed coverage on shares of Veritone in a research note on Monday, June 1st. They issued a “neutral” rating and a $2.50 target price for the company. D. Boral Capital restated a “buy” rating and set a $8.00 price target on shares of Veritone in a research note on Wednesday, April 15th. Finally, Weiss Ratings downgraded shares of Veritone from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.38.

Veritone Stock Up 1.8%

NASDAQ VERI opened at $1.11 on Friday. The company has a market cap of $103.17 million, a PE ratio of -2.41 and a beta of 2.29. Veritone has a 52 week low of $0.98 and a 52 week high of $9.42. The firm’s 50-day simple moving average is $1.40 and its two-hundred day simple moving average is $2.27.

Institutional Trading of Veritone

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming bought a new stake in shares of Veritone during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC grew its holdings in shares of Veritone by 17.3% during the fourth quarter. Farther Finance Advisors LLC now owns 44,090 shares of the company’s stock worth $205,000 after purchasing an additional 6,500 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Veritone by 78.3% in the fourth quarter. Franklin Resources Inc. now owns 18,325 shares of the company’s stock worth $85,000 after purchasing an additional 8,045 shares during the last quarter. Jefferies Financial Group Inc. increased its position in shares of Veritone by 47.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 25,130 shares of the company’s stock worth $117,000 after purchasing an additional 8,130 shares during the last quarter. Finally, SummitTX Capital L.P. purchased a new stake in Veritone in the first quarter valued at approximately $26,000. Hedge funds and other institutional investors own 39.18% of the company’s stock.

Veritone Company Profile

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.