Veritone (NASDAQ:VERI) Upgraded to “Neutral” at Roth Mkm

Roth Mkm upgraded shares of Veritone (NASDAQ:VERIFree Report) from a sell rating to a neutral rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has $1.85 target price on the stock, down from their previous target price of $2.00.

Veritone Stock Performance

Shares of NASDAQ:VERI opened at $1.78 on Thursday. The company’s 50 day moving average price is $1.91 and its two-hundred day moving average price is $2.47. Veritone has a 12-month low of $1.48 and a 12-month high of $10.99. The firm has a market cap of $66.09 million, a PE ratio of -0.88 and a beta of 2.78. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 7.40.

Veritone (NASDAQ:VERIGet Free Report) last announced its earnings results on Wednesday, November 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. Veritone had a negative net margin of 45.14% and a negative return on equity of 82.59%. The firm had revenue of $35.13 million for the quarter, compared to analyst estimates of $35.90 million. Equities research analysts predict that Veritone will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Ryan Steelberg purchased 49,752 shares of Veritone stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average price of $2.05 per share, for a total transaction of $101,991.60. Following the transaction, the chief executive officer now owns 215,174 shares of the company’s stock, valued at approximately $441,106.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.40% of the stock is currently owned by company insiders.

Institutional Trading of Veritone

Several large investors have recently made changes to their positions in the company. Banta Asset Management LP boosted its position in shares of Veritone by 7.4% during the 3rd quarter. Banta Asset Management LP now owns 2,513,431 shares of the company’s stock worth $6,485,000 after acquiring an additional 172,675 shares in the last quarter. Vanguard Group Inc. lifted its stake in Veritone by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,490,780 shares of the company’s stock valued at $6,426,000 after purchasing an additional 30,385 shares during the last quarter. Private Management Group Inc. lifted its stake in Veritone by 7.3% in the 4th quarter. Private Management Group Inc. now owns 2,126,535 shares of the company’s stock valued at $3,849,000 after purchasing an additional 144,613 shares during the last quarter. BlackRock Inc. lifted its stake in Veritone by 5.5% in the 1st quarter. BlackRock Inc. now owns 2,105,237 shares of the company’s stock valued at $12,274,000 after purchasing an additional 109,006 shares during the last quarter. Finally, State Street Corp lifted its stake in Veritone by 1.5% in the 1st quarter. State Street Corp now owns 965,865 shares of the company’s stock valued at $5,631,000 after purchasing an additional 14,220 shares during the last quarter. Institutional investors and hedge funds own 37.31% of the company’s stock.

About Veritone

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Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions and services in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models and human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.

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