Veritone (NASDAQ:VERI) Stock Rating Upgraded by UBS Group

Veritone (NASDAQ:VERI) was upgraded by stock analysts at UBS Group from a “sell” rating to a “neutral” rating in a report issued on Wednesday, Briefing.com reports. The brokerage currently has a $3.50 price target on the stock. UBS Group’s price target would suggest a potential downside of 5.41% from the company’s current price.

Veritone Stock Performance

NASDAQ:VERI opened at $3.70 on Wednesday. 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 has a fifty-two week low of $1.48 and a fifty-two week high of $7.76. The company has a 50 day simple moving average of $3.59 and a two-hundred day simple moving average of $3.20. The company has a market capitalization of $139.79 million, a PE ratio of -1.68 and a beta of 3.30.

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

Hedge Funds Weigh In On Veritone

A number of institutional investors and hedge funds have recently made changes to their positions in VERI. Bfsg LLC boosted its holdings in Veritone by 13.4% in the third quarter. Bfsg LLC now owns 23,450 shares of the company’s stock worth $84,000 after acquiring an additional 2,775 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Veritone during the 1st quarter valued at $65,000. State Board of Administration of Florida Retirement System bought a new position in shares of Veritone in the first quarter valued at $88,000. Point72 DIFC Ltd acquired a new position in shares of Veritone during the second quarter valued at about $42,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Veritone during the second quarter worth about $43,000. Institutional investors own 39.18% of the company’s stock.

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.