Veritone (VERI) Downgraded to Strong Sell at BidaskClub

Veritone (NASDAQ:VERI) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.

A number of other equities research analysts also recently commented on VERI. B. Riley downgraded Veritone from a “buy” rating to a “sell” rating and decreased their target price for the stock from $18.00 to $15.00 in a research report on Tuesday, November 7th. Roth Capital reiterated a “buy” rating and issued a $62.00 target price (up from $13.20) on shares of Veritone in a research report on Friday, September 29th. Zacks Investment Research upgraded Veritone from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Craig Hallum set a $31.00 target price on Veritone and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $26.50.

Veritone (VERI) traded down $0.20 during midday trading on Thursday, hitting $23.18. The stock had a trading volume of 112,300 shares, compared to its average volume of 729,914. The company has a market capitalization of $346.71 and a price-to-earnings ratio of -4.28. Veritone has a 1 year low of $7.76 and a 1 year high of $74.92.

Veritone (NASDAQ:VERI) last released its quarterly earnings data 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). The business had revenue of $3.72 million during the quarter, compared to the consensus estimate of $4.95 million. Veritone had a negative return on equity of 1,887.29% and a negative net margin of 416.28%. The business’s revenue was up 60.3% on a year-over-year basis. During the same period last year, the company earned ($3.49) EPS. research analysts forecast that Veritone will post -5.8 earnings per share for the current year.

Several large investors have recently bought and sold shares of the stock. B. Riley Financial Inc. purchased a new stake in shares of Veritone in the second quarter worth about $2,022,000. Manatuck Hill Partners LLC purchased a new stake in shares of Veritone in the second quarter worth about $1,757,000. UBS Oconnor LLC purchased a new stake in shares of Veritone in the second quarter worth about $586,000. Jane Street Group LLC purchased a new stake in shares of Veritone in the third quarter worth about $1,107,000. Finally, Northern Trust Corp purchased a new stake in shares of Veritone in the second quarter worth about $269,000. Institutional investors own 5.72% of the company’s stock.

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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.

Analyst Recommendations for Veritone (NASDAQ:VERI)

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