Craig Hallum slashes price target on Veritone Inc. [VERI] – find out why.

Veritone Inc. [NASDAQ: VERI] loss -7.59% on the last trading session, reaching $26.06 price per share at the time. The company report on December 15, 2020 that Veritone Launches Automate Studio to Accelerate AI-Based Digital Transformation Initiatives.

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New low-code, drag-and-drop application unleashes the power of the world’s first OS for AI for organizations to easily deploy and integrate AI workflows for unstructured data insight.

Veritone, Inc. (NASDAQ: VERI), the creator of the world’s first operating system for artificial intelligence (AI), aiWARE™, announced the public launch of Veritone Automate Studio, a low-code, web-based workflow designer tightly integrated with aiWARE. Automate Studio helps organizations embarking on intelligent process automation (IPA) and hyperautomation initiatives to rapidly deploy AI-powered workflows without heavy coding and AI expertise, and integrate resulting content insights into legacy applications and business processes at scale.

Veritone Inc. represents 27.59 million in outstanding shares, while the company has a total market value of $767.99 million with the latest information. VERI stock price has been found in the range of $25.485 to $29.39.

If compared to the average trading volume of 1.23M shares, VERI reached a trading volume of 1195112 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Veritone Inc. [VERI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VERI shares is $15.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VERI stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Craig Hallum have made an estimate for Veritone Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on July 06, 2020. While these analysts kept the previous recommendation, Craig Hallum raised their target price from $14 to $3. The new note on the price target was released on November 07, 2019, representing the official price target for Veritone Inc. stock. Previously, the target price had yet another raise to $10, while JMP Securities analysts kept a Mkt Outperform rating on VERI stock. On November 13, 2018, analysts increased their price target for VERI shares from 8 to 9.

The Average True Range (ATR) for Veritone Inc. is set at 3.41, with the Price to Sales ratio for VERI stock in the period of the last 12 months amounting to 14.41. The Price to Book ratio for the last quarter was 20.85.

Trading performance analysis for VERI stock

Veritone Inc. [VERI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.26. With this latest performance, VERI shares gained by 115.02% in over the last four-week period, additionally plugging by 88.70% over the last 6 months – not to mention a rise of 879.70% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VERI stock in for the last two-week period is set at 60.74, with the RSI for the last a single of trading hit 55.10, and the three-weeks RSI is set at 63.09 for Veritone Inc. [VERI]. The present Moving Average for the last 50 days of trading for this stock 15.39, while it was recorded at 28.56 for the last single week of trading, and 10.22 for the last 200 days.

Veritone Inc. [VERI]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Veritone Inc. [VERI] shares currently have an operating margin of -128.77 and a Gross Margin at +59.47. Veritone Inc.’s Net Margin is presently recorded at -125.04.

Return on Total Capital for VERI is now -118.73, given the latest momentum, and Return on Invested Capital for the company is -115.29. Return on Equity for this stock declined to -115.29, with Return on Assets sitting at -54.87.

Reflecting on the efficiency of the workforce at the company, Veritone Inc. [VERI] managed to generate an average of -$224,108 per employee. Receivables Turnover for the company is 1.56 with a Total Asset Turnover recorded at a value of 0.44.Veritone Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Veritone Inc. [VERI]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Veritone Inc. posted -0.33/share EPS, while the average EPS was predicted by analysts to be reported at -0.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VERI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Veritone Inc. go to 50.00%.

An analysis of insider ownership at Veritone Inc. [VERI]

There are presently around $205 million, or 34.40% of VERI stock, in the hands of institutional investors. The top three institutional holders of VERI stocks are: BLACKROCK INC. with ownership of 1,559,766, which is approximately -0.852% of the company’s market cap and around 3.20% of the total institutional ownership; VANGUARD GROUP INC, holding 1,315,019 shares of the stock with an approximate value of $34.27 million in VERI stocks shares; and D. E. SHAW & CO., INC., currently with $15.73 million in VERI stock with ownership of nearly 98.425% of the company’s market capitalization.

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Positions in Veritone Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 38 institutional holders increased their position in Veritone Inc. [NASDAQ:VERI] by around 2,255,319 shares. Additionally, 36 investors decreased positions by around 1,214,377 shares, while 16 investors held positions by with 4,410,394 shares. The mentioned changes placed institutional holdings at 7,880,090 shares, according to the latest SEC report filing. VERI stock had 18 new institutional investments in for a total of 1,443,801 shares, while 21 institutional investors sold positions of 1,104,613 shares during the same period.

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