Stifel Nicolaus analyst Brad Reback maintained a Hold rating on Veritone (VERI – Research Report) on June 3 and set a price target of $4.00. The company’s shares closed yesterday at $3.75.
According to TipRanks, Reback is a 5-star analyst with an average return of 14.7% and a 60.44% success rate. Reback covers the Technology sector, focusing on stocks such as Workday, Rapid7, and Olo.
The word on The Street in general, suggests a Hold analyst consensus rating for Veritone with a $5.08 average price target, a 35.47% upside from current levels. In a report released on June 5, UBS also maintained a Hold rating on the stock with a $3.50 price target.
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VERI market cap is currently $131.5M and has a P/E ratio of -3.35.
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Veritone, Inc. engages in the provision of artificial intelligence (AI) computing solutions to media and entertainment, government, and legal and compliance industries. It operates through the following segments: Advertising; aiWARE SaaS Solutions; and aiWARE Content Licensing and Media Services. The Advertising segment places advertisements for clients, primarily with radio broadcasters, podcasters and digital media producers. The aiWARE SaaS Solutions segment offers solutions through a combination of its direct sales force and indirect channel partners such as value-added resellers (VARs), distributors, system integrators, managed services providers, and referral partners. The aiWARE Content Licensing and Media Services segment sells and markets activities relating to its digital content licensing services business through its direct sales force. The company was founded by Chad Steelberg and Ryan Steelberg in 2014 and is headquartered in Costa Mesa, CA.
Read More on VERI:
- Veritone Slips on $52M Broadbean Acquisition
- Veritone to Acquire Broadbean, Signifying Deeper, Global Commitment for Veritone’s AI-powered Human Resources Solutions
- Veritone price target lowered to $8 from $11 at Roth MKM
- Veritone narrows FY23 revenue view to $158M-$166M from $158M-$168M
- Veritone sees Q2 revenue $32M-$34M, consensus $34.85M
