Veritone (NASDAQ:VERI - Get Free Report) was upgraded by equities researchers at UBS Group from a "sell" rating to a "neutral" rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm currently has a $3.50 target price on the stock. UBS Group's price objective indicates a potential upside of 2.34% from the stock's current price.
Veritone Price Performance
Shares of VERI stock traded down $0.28 during midday trading on Wednesday, reaching $3.42. 621,488 shares of the company were exchanged, compared to its average volume of 1,303,864. The company's 50 day moving average price is $3.59 and its two-hundred day moving average price is $3.20. The company has a market cap of $129.21 million, a P/E ratio of -1.55 and a beta of 3.30. Veritone has a 12 month low of $1.48 and a 12 month high of $7.76. The company has a debt-to-equity ratio of 9.02, a quick ratio of 0.78 and a current ratio of 0.78.
Veritone (NASDAQ:VERI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.24) earnings per share (EPS) for the quarter. Veritone had a negative net margin of 42.56% and a negative return on equity of 222.47%. The firm had revenue of $30.99 million for the quarter.
Institutional Trading of Veritone
A number of hedge funds and other institutional investors have recently made changes to their positions in VERI. Point72 DIFC Ltd bought a new stake in Veritone during the second quarter worth approximately $42,000. Ground Swell Capital LLC acquired a new position in shares of Veritone in the 2nd quarter worth $43,000. Bfsg LLC raised its position in shares of Veritone by 31.6% during the second quarter. Bfsg LLC now owns 20,675 shares of the company's stock worth $47,000 after purchasing an additional 4,960 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Veritone during the second quarter valued at $58,000. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Veritone in the 2nd quarter valued at $62,000. 39.18% of the stock is currently owned by institutional investors.
About Veritone
(
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Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic 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.
Further Reading
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