Veritone (NASDAQ:VERI – Get Rating) had its price target reduced by stock analysts at Northland Securities from $40.00 to $30.00 in a report issued on Friday, Price Targets.com reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective would suggest a potential upside of 79.32% from the stock’s previous close.
A number of other research analysts have also issued reports on VERI. Bank of America started coverage on Veritone in a research report on Wednesday, February 9th. They set a “buy” rating and a $22.00 price target for the company. Stifel Nicolaus reduced their price target on Veritone from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Friday. JMP Securities boosted their price target on Veritone from $45.00 to $49.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 10th. Finally, Zacks Investment Research upgraded Veritone from a “sell” rating to a “hold” rating in a research report on Tuesday, January 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Veritone has an average rating of “Buy” and a consensus price target of $34.33.
VERI stock traded up $0.64 during trading on Friday, reaching $16.73. 8,349 shares of the company’s stock were exchanged, compared to its average volume of 433,746. Veritone has a 1-year low of $13.06 and a 1-year high of $39.18. The company’s fifty day moving average price is $17.83 and its 200-day moving average price is $21.93. The firm has a market cap of $585.22 million, a PE ratio of -8.00 and a beta of 3.01.
Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its stake in shares of Veritone by 56.4% in the 2nd quarter. State Street Corp now owns 799,013 shares of the company’s stock worth $15,749,000 after purchasing an additional 288,272 shares during the last quarter. Northern Trust Corp grew its stake in shares of Veritone by 8.5% in the 2nd quarter. Northern Trust Corp now owns 294,808 shares of the company’s stock worth $5,810,000 after purchasing an additional 23,038 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Veritone by 9.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 71,475 shares of the company’s stock worth $1,409,000 after purchasing an additional 6,155 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Veritone by 7.9% in the 2nd quarter. Geode Capital Management LLC now owns 461,520 shares of the company’s stock worth $9,096,000 after purchasing an additional 33,777 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY grew its stake in shares of Veritone by 104,700.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 7,336 shares of the company’s stock worth $145,000 after purchasing an additional 7,329 shares during the last quarter. 46.00% of the stock is currently owned by institutional investors.
Veritone Company Profile
Veritone, Inc engages in the provision of artificial intelligence (AI) computing solutions to media and entertainment, government, and legal and compliance industries. It operates through the following segments: Advertising, aiWARE SaaS Solutions, and aiWARE Content Licensing and Media Services. The Advertising segment places advertisements for clients, primarily with radio broadcasters, podcasters and digital media producers.