Analysts have been eager to weigh in on the Technology sector with new ratings on Veritone Inc (VERI) and ServiceSource International Inc (SREV).
Veritone Inc (VERI)
Northland Securities analyst Michael Latimore maintained a Buy rating on Veritone Inc today and set a price target of $20. The company’s shares closed yesterday at $6.19, close to its 52-week low of $3.65.
Latimore wrote:
“We believe Wazee content revenue is seasonally strong in 2Qs, followed by 1Q and 3Q, with 4Q lowest. Sees EBITDA improvements in FY19 v. FY18 and expect loss percent to decline y/y every quarter. The guidance excludes any revenue from potential contract within the government vertical for aiWARE despite three pilot projects that are ongoing. This makes us believe that guidance is conservative and there could be significant upside should any or all of the pilot projects are converted. Revs could be material in 4Q. Further, as we discuss on the next page, the upcoming laws with law enforcement agencies that aim to bring transparency could drive demand for Veritone’s Redact and Identify.”
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 15.5% and a 58.9% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, The Meet Group Inc, and Brightcove Inc.
Currently, the analyst consensus on Veritone Inc is a Strong Buy with an average price target of $14.38, a 132.3% upside from current levels. In a report issued on May 3, Roth Capital also maintained a Buy rating on the stock with a $15.50 price target.
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ServiceSource International Inc (SREV)
Northland Securities analyst Tim Klasell maintained a Hold rating on ServiceSource International Inc today and set a price target of $2. The company’s shares closed yesterday at $1, close to its 52-week low of $0.85.
According to TipRanks.com, Klasell is a 5-star analyst with an average return of 21.1% and a 70.4% success rate. Klasell covers the Technology sector, focusing on stocks such as Tyler Technologies, Zix Corporation, and Proofpoint Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for ServiceSource International Inc with a $1.25 average price target, representing a 25.0% upside. In a report issued on April 24, B.Riley FBR also maintained a Hold rating on the stock with a $1.25 price target.
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