Roth Capital analyst Darren Aftahi maintained a Buy rating on Veritone Inc (VERI) today and set a price target of $20. The company’s shares closed on Friday at $8.12, close to its 52-week low of $6.50.
Aftahi said:
“We look for 3Q18 sales slightly higher vs. consensus when VERI reports AMC on 11/12. We expect total revenue growth of ~71% y/y (~20% organic), with a notable lift in AI revenue to ~$2.4M (although aided by VERI’s recent acquisitions), but still implying ~100% organic growth. We believe metrics will be in-line with guidance and look for early progress regarding implementing AI into Wazee, as well as early results from VERI’s two new legal/compliance offerings.”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 10.3% and a 52.2% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Mitek Systems Inc.
Currently, the analyst consensus on Veritone Inc is a Moderate Buy with an average price target of $17.67.
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The company has a one-year high of $38.58 and a one-year low of $6.50. Currently, Veritone Inc has an average volume of 173.2K.
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Veritone, Inc. engages in the development of cloud-based artificial intelligence media software. It provides a cloud-based solution available for media professionals to capture, index, search, and extend broadcast and digital content. Its products include content management, analytics, search and discovery, and share and extend.
