Veritone, Inc. (NASDAQ:VERI) shares shot up 37.7% on Wednesday . The company traded as high as $29.04 and last traded at $28.98. 2,313,800 shares were traded during trading, an increase of 424% from the average session volume of 441,823 shares. The stock had previously closed at $21.04.
A number of research firms recently weighed in on VERI. B. Riley restated a “veri (” rating and set a $18.00 target price on shares of Veritone in a research note on Wednesday, August 9th. Zacks Investment Research cut shares of Veritone from a “buy” rating to a “sell” rating in a research note on Friday, August 11th. Northland Securities set a $19.00 target price on shares of Veritone and gave the company a “buy” rating in a research note on Wednesday, July 19th. Finally, Roth Capital began coverage on shares of Veritone in a research note on Friday, August 11th. They set a “buy” rating and a $13.20 target price on the stock. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Veritone has an average rating of “Hold” and an average price target of $25.60.
Veritone (NASDAQ:VERI) last released its earnings results on Monday, November 6th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.88). Veritone had a negative net margin of 416.28% and a negative return on equity of 1,887.29%. The firm had revenue of $3.72 million for the quarter, compared to analysts’ expectations of $4.95 million. During the same quarter last year, the firm posted ($3.49) EPS. The firm’s quarterly revenue was up 60.3% compared to the same quarter last year. equities research analysts forecast that Veritone, Inc. will post -5.22 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in Veritone in the 3rd quarter worth $1,107,000. First Republic Investment Management Inc. purchased a new stake in Veritone in the 3rd quarter worth $272,000. Schwab Charles Investment Management Inc. purchased a new stake in Veritone in the 3rd quarter worth $205,000. Wells Fargo & Company MN purchased a new stake in Veritone in the 3rd quarter worth $489,000. Finally, FNY Managed Accounts LLC purchased a new stake in Veritone in the 3rd quarter worth $521,000. Institutional investors and hedge funds own 8.43% of the company’s stock.
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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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