Veritone, Inc. (NASDAQ:VERI) shares were down 9.7% during trading on Wednesday . The company traded as low as $45.25 and last traded at $42.15. Approximately 635,206 shares changed hands during trading, an increase of 16% from the average daily volume of 547,800 shares. The stock had previously closed at $46.68.
A number of research analysts have recently commented on VERI shares. Northland Securities set a $19.00 price target on shares of Veritone and gave the company a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. Roth Capital restated a “buy” rating and set a $62.00 price target (up from $13.20) on shares of Veritone in a research report on Friday, September 29th. Wunderlich started coverage on shares of Veritone in a research report on Tuesday, June 6th. They set a “buy” rating and a $18.00 price target for the company. Finally, Craig Hallum started coverage on shares of Veritone in a research report on Tuesday, June 6th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.20.
The stock’s market capitalization is $630.44 million. The company’s 50-day moving average price is $27.67 and its 200-day moving average price is $17.33.
Veritone (NASDAQ:VERI) last announced its quarterly earnings data on Monday, August 7th. The company reported ($1.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.20) by ($0.13). The firm had revenue of $4.09 million for the quarter, compared to analysts’ expectations of $2.99 million. Equities research analysts anticipate that Veritone, Inc. will post ($4.89) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Spark Investment Management LLC bought a new stake in Veritone in the 2nd quarter valued at $126,000. Vanguard Group Inc. bought a new stake in Veritone in the 2nd quarter valued at $132,000. Northern Trust Corp bought a new stake in Veritone in the 2nd quarter valued at $269,000. Perkins Capital Management Inc. bought a new stake in Veritone in the 2nd quarter valued at $498,000. Finally, White Pine Capital LLC bought a new stake in Veritone in the 2nd quarter valued at $583,000. Institutional investors own 9.73% of the company’s stock.
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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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