Veritone (NASDAQ:VERI) Trading 6.2% Higher

Veritone Inc (NASDAQ:VERI)’s stock price traded up 6.2% during trading on Friday . The stock traded as high as $7.06 and last traded at $7.01, 331,774 shares were traded during mid-day trading. A decline of 44% from the average session volume of 588,453 shares. The stock had previously closed at $6.60.

Several equities analysts recently commented on the company. Zacks Investment Research lowered Veritone from a “strong-buy” rating to a “hold” rating and set a $8.75 target price on the stock. in a report on Saturday, July 27th. Northland Securities reissued a “buy” rating and issued a $20.00 target price on shares of Veritone in a report on Thursday, May 9th. Finally, ValuEngine raised Veritone from a “buy” rating to a “strong-buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $12.68.

The company has a fifty day moving average price of $7.87. The stock has a market capitalization of $142.60 million, a P/E ratio of -2.01 and a beta of 1.31.

Veritone (NASDAQ:VERI) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.41. The company had revenue of $12.13 million for the quarter, compared to analyst estimates of $11.58 million. Veritone had a negative return on equity of 86.72% and a negative net margin of 185.03%. The business’s quarterly revenue was up 176.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.81) earnings per share. Research analysts forecast that Veritone Inc will post -3.34 earnings per share for the current year.

In other news, Director Richard H. Taketa acquired 9,021 shares of the company’s stock in a transaction on Friday, June 14th. The shares were bought at an average price of $7.49 per share, with a total value of $67,567.29. Following the completion of the acquisition, the director now owns 9,887 shares in the company, valued at approximately $74,053.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chad Steelberg acquired 13,300 shares of the company’s stock in a transaction on Friday, June 14th. The shares were purchased at an average cost of $7.54 per share, for a total transaction of $100,282.00. Following the acquisition, the chief executive officer now owns 83,284 shares of the company’s stock, valued at approximately $627,961.36. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 111,142 shares of company stock worth $915,168. Corporate insiders own 37.00% of the company’s stock.

Several hedge funds have recently modified their holdings of VERI. Perkins Capital Management Inc. purchased a new position in shares of Veritone during the first quarter worth about $1,274,000. BlackRock Inc. grew its holdings in shares of Veritone by 8.3% during the fourth quarter. BlackRock Inc. now owns 497,174 shares of the company’s stock worth $1,890,000 after buying an additional 38,046 shares during the last quarter. Vanguard Capital Wealth Advisors purchased a new position in shares of Veritone during the first quarter worth about $187,000. First Trust Advisors LP grew its holdings in shares of Veritone by 74.0% during the fourth quarter. First Trust Advisors LP now owns 44,634 shares of the company’s stock worth $170,000 after buying an additional 18,983 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Veritone by 26.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 71,059 shares of the company’s stock worth $270,000 after buying an additional 14,796 shares during the last quarter. 17.90% of the stock is currently owned by institutional investors.

Veritone Company Profile (NASDAQ:VERI)

Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.

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