Zacks: Veritone, Inc. (NASDAQ:VERI) Receives Average Rating of “Strong Buy” from Brokerages

Shares of Veritone, Inc. (NASDAQ:VERI) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus price objective of $18.50 for the company and are anticipating that the company will post ($1.10) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Veritone an industry rank of 109 out of 265 based on the ratings given to related companies.

VERI has been the subject of several analyst reports. Wunderlich initiated coverage on shares of Veritone in a research note on Tuesday, June 6th. They issued a “buy” rating and a $18.00 target price for the company. Craig Hallum initiated coverage on shares of Veritone in a research note on Tuesday, June 6th. They issued a “buy” rating for the company. Finally, Northland Securities initiated coverage on shares of Veritone in a research note on Tuesday, June 6th. They issued an “outperform” rating and a $19.00 target price for the company.

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In related news, Director G Louis Graziadio III purchased 24,780 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average price of $11.67 per share, with a total value of $289,182.60. Following the acquisition, the director now owns 82,349 shares in the company, valued at $961,012.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Veritone (VERI) opened at 12.44 on Thursday. The stock has a 50 day moving average of $13.17 and a 200 day moving average of $13.17. Veritone has a 52 week low of $10.00 and a 52 week high of $15.64. The company’s market cap is $185.65 million.

Veritone (NASDAQ:VERI) last announced its quarterly earnings data on Tuesday, June 20th. The company reported ($3.09) EPS for the quarter, beating the consensus estimate of ($4.16) by $1.07. The business had revenue of $3.11 million for the quarter, compared to analyst estimates of $2.40 million. On average, analysts expect that Veritone will post ($2.80) earnings per share for the current year.

Veritone Company Profile

Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.

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