UBS Group Upgrades Veritone (NASDAQ:VERI) to Neutral

UBS Group upgraded shares of Veritone (NASDAQ:VERI) from a sell rating to a neutral rating in a report released on Wednesday, Marketbeat reports. They currently have $3.50 price objective on the stock.

Veritone Price Performance

Shares of NASDAQ:VERI opened at $3.42 on Wednesday. The business has a fifty day moving average price of $3.59 and a 200-day moving average price of $3.20. The company has a debt-to-equity ratio of 9.02, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $129.21 million, a PE ratio of -1.55 and a beta of 3.30. Veritone has a 1-year low of $1.48 and a 1-year high of $7.76.

Veritone (NASDAQ:VERI) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.24) earnings per share for the quarter. The firm had revenue of $30.99 million for the quarter. Veritone had a negative net margin of 42.56% and a negative return on equity of 222.47%.

Hedge Funds Weigh In On Veritone

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Veritone in the first quarter worth $65,000. State Board of Administration of Florida Retirement System purchased a new position in Veritone in the 1st quarter worth about $88,000. Point72 DIFC Ltd bought a new position in Veritone during the 2nd quarter valued at about $42,000. Ground Swell Capital LLC bought a new position in Veritone during the 2nd quarter valued at about $43,000. Finally, Bfsg LLC boosted its holdings in shares of Veritone by 31.6% during the 2nd quarter. Bfsg LLC now owns 20,675 shares of the company’s stock valued at $47,000 after acquiring an additional 4,960 shares during the last quarter. 39.18% of the stock is owned by institutional investors.

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.