Veritone, Inc. (VERI) PT Set at $23.00 by Northland Securities

Veritone, Inc. (NASDAQ:VERI) has been assigned a $23.00 price objective by equities researchers at Northland Securities in a research note issued to investors on Sunday. The brokerage currently has a “buy” rating on the stock. Northland Securities’ price target points to a potential downside of 4.96% from the company’s previous close.

A number of other equities analysts have also recently weighed in on VERI. Craig Hallum initiated coverage on Veritone in a report on Tuesday, June 6th. They issued a “buy” rating for the company. Wunderlich initiated coverage on Veritone in a report on Tuesday, June 6th. They issued a “buy” rating and a $18.00 price target for the company. B. Riley restated a “buy” rating and issued a $18.00 price target on shares of Veritone in a report on Friday, August 4th. Zacks Investment Research upgraded Veritone from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Wednesday, August 9th. Finally, Roth Capital initiated coverage on Veritone in a report on Friday, August 11th. They issued a “buy” rating and a $13.20 price target for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $16.44.

Shares of Veritone (NASDAQ VERI) opened at 24.20 on Friday. Veritone has a one year low of $7.76 and a one year high of $24.86. The company has a 50-day moving average of $11.46 and a 200 day moving average of $12.05. The firm’s market cap is $361.96 million.

Veritone (NASDAQ:VERI) last released its quarterly earnings results on Monday, August 7th. The company reported ($1.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.20) by $0.13. The business had revenue of $4.09 million during the quarter, compared to analysts’ expectations of $2.99 million. On average, equities research analysts expect that Veritone will post ($5.37) EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spark Investment Management LLC acquired a new position in shares of Veritone in the 2nd quarter valued at approximately $126,000. Vanguard Group Inc. acquired a new position in shares of Veritone in the 2nd quarter valued at approximately $132,000. Northern Trust Corp acquired a new position in shares of Veritone in the 2nd quarter valued at approximately $269,000. Perkins Capital Management Inc. acquired a new position in shares of Veritone in the 2nd quarter valued at approximately $498,000. Finally, White Pine Capital LLC acquired a new position in shares of Veritone in the 2nd quarter valued at approximately $583,000. Hedge funds and other institutional investors own 9.73% of the company’s stock.

About Veritone

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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