Veritone (NASDAQ:VERI) Cut to “Sell” at Roth Mkm

Posted by on Aug 9th, 2023

Veritone (NASDAQ:VERI – Get Free Report) was downgraded by equities researchers at Roth Mkm from a “neutral” rating to a “sell” rating in a research note issued on Wednesday, Briefing.com reports. They presently have a $2.00 target price on the stock, down from their previous target price of $3.50. Roth Mkm’s price objective would suggest a potential downside of 50.00% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Roth Capital lowered shares of Veritone from a “buy” rating to a “neutral” rating in a research note on Thursday, June 1st. Stifel Nicolaus reduced their target price on shares of Veritone from $5.00 to $4.00 in a research note on Thursday, June 1st. Finally, Bank of America reduced their target price on shares of Veritone from $5.00 to $4.25 in a research note on Thursday, June 29th.

Read Our Latest Report on Veritone

Veritone Stock Down 2.3 %

Shares of NASDAQ:VERI opened at $4.00 on Wednesday. Veritone has a 12 month low of $2.98 and a 12 month high of $10.99. The company’s 50-day moving average price is $4.09 and its two-hundred day moving average price is $5.30. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.27. The firm has a market cap of $147.32 million, a P/E ratio of -3.81 and a beta of 3.12.

Hedge Funds Weigh In On Veritone

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Veritone by 32.4% during the third quarter. Vanguard Group Inc. now owns 2,362,812 shares of the company’s stock worth $13,303,000 after buying an additional 578,235 shares in the last quarter. Private Management Group Inc. grew its stake in Veritone by 39.7% during the fourth quarter. Private Management Group Inc. now owns 1,032,785 shares of the company’s stock worth $5,474,000 after buying an additional 293,625 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Veritone during the second quarter worth about $1,074,000. BlackRock Inc. grew its stake in Veritone by 5.5% during the first quarter. BlackRock Inc. now owns 2,105,237 shares of the company’s stock worth $12,274,000 after buying an additional 109,006 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Veritone by 11.7% in the second quarter. State Street Corp now owns 923,922 shares of the company’s stock worth $6,033,000 after acquiring an additional 96,603 shares during the last quarter. 37.65% of the stock is currently owned by institutional investors and hedge funds.

About Veritone

(Get Free Report)

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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