UBS Group Upgrades Veritone (NASDAQ:VERI) to Neutral

Veritone (NASDAQ:VERI) was upgraded by equities researchers at UBS Group from a “sell” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat.com reports. The firm presently has a $3.50 target price on the stock. UBS Group’s target price indicates a potential upside of 7.69% from the company’s current price.

Veritone Price Performance

Shares of NASDAQ:VERI opened at $3.25 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 9.02. The stock’s fifty day simple moving average is $3.58 and its two-hundred day simple moving average is $3.20. Veritone has a 1-year low of $1.48 and a 1-year high of $7.76. The stock has a market cap of $122.79 million, a PE ratio of -1.45 and a beta of 3.30.

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

Hedge Funds Weigh In On Veritone

Large investors have recently bought and sold shares of the stock. Bfsg LLC raised its stake in shares of Veritone by 13.4% during the 3rd quarter. Bfsg LLC now owns 23,450 shares of the company’s stock worth $84,000 after purchasing an additional 2,775 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Veritone in the 1st quarter worth about $65,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Veritone in the 1st quarter worth about $88,000. Point72 DIFC Ltd purchased a new position in shares of Veritone in the 2nd quarter worth about $42,000. Finally, Ground Swell Capital LLC purchased a new position in shares of Veritone in the 2nd quarter worth about $43,000. 39.18% of the stock is currently 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.