Veritone (NASDAQ:VERI) Upgraded at UBS Group

UBS Group upgraded shares of Veritone (NASDAQ:VERI) from a sell rating to a neutral rating in a report published on Wednesday morning, MarketBeat reports. UBS Group currently has $3.50 target price on the stock.

Veritone Stock Performance

Shares of NASDAQ:VERI opened at $3.26 on Wednesday. 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 business’s fifty day moving average price is $3.58 and its two-hundred day moving average price is $3.20. Veritone has a fifty-two week low of $1.48 and a fifty-two week high of $7.76. The stock has a market capitalization of $124.14 million, a price-to-earnings ratio of -1.51 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 return on equity of 222.47% and a negative net margin of 42.56%. 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 added to or reduced their stakes in the company. Private Management Group Inc. boosted its stake in Veritone by 18.6% in the third quarter. Private Management Group Inc. now owns 2,891,845 shares of the company’s stock valued at $10,382,000 after acquiring an additional 452,861 shares during the last quarter. Vanguard Capital Wealth Advisors lifted its stake in shares of Veritone by 136.1% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 70,600 shares of the company’s stock valued at $253,000 after purchasing an additional 40,700 shares during the period. Bfsg LLC boosted its position in shares of Veritone by 13.4% in 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 last quarter. Point72 DIFC Ltd acquired a new stake in shares of Veritone during the second quarter worth $42,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Veritone in the second quarter valued at about $203,000. 39.18% of the stock is currently owned by institutional investors and hedge funds.

About Veritone

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.