Veritone's (VERI) Buy Rating Reiterated at HC Wainwright

Veritone (NASDAQ:VERI - Get Free Report)'s stock had its "buy" rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $6.00 price objective on the stock. HC Wainwright's price target points to a potential upside of 117.39% from the stock's current price.

Separately, D. Boral Capital reaffirmed a "buy" rating and issued a $4.50 target price on shares of Veritone in a report on Monday.

Veritone Price Performance

Shares of Veritone stock traded up $0.05 during midday trading on Monday, hitting $2.76. 453,427 shares of the company were exchanged, compared to its average volume of 1,018,617. The firm has a 50 day simple moving average of $2.90 and a 200-day simple moving average of $3.13. Veritone has a 52 week low of $2.03 and a 52 week high of $7.76. The firm has a market cap of $110.90 million, a P/E ratio of -1.28 and a beta of 3.43.

Hedge Funds Weigh In On Veritone

Institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP raised its holdings in shares of Veritone by 559.7% in the third quarter. GSA Capital Partners LLP now owns 108,614 shares of the company's stock valued at $390,000 after buying an additional 92,150 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Veritone during the fourth quarter worth approximately $130,000. XTX Topco Ltd bought a new stake in shares of Veritone during the third quarter valued at approximately $132,000. Barclays PLC increased its holdings in shares of Veritone by 514.0% in the fourth quarter. Barclays PLC now owns 37,536 shares of the company's stock valued at $124,000 after purchasing an additional 31,423 shares in the last quarter. Finally, Northern Trust Corp raised its position in Veritone by 24.2% in the 4th quarter. Northern Trust Corp now owns 146,105 shares of the company's stock worth $479,000 after purchasing an additional 28,510 shares during the last quarter. Institutional investors and hedge funds own 39.18% of the company's stock.

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Veritone Company Profile

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.