In a report released today, Darren Aftahi from Roth Capital maintained a Buy rating on Veritone (VERI), with a price target of $20.00. The company’s shares closed last Thursday at $15.60.
According to TipRanks.com, Aftahi is a top 100 analyst with an average return of 33.1% and a 55.2% success rate. Aftahi covers the Technology sector, focusing on stocks such as Remark Holdings, Fathom Holdings, and Digital Turbine.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Veritone with a $17.50 average price target, which is a 20.8% upside from current levels. In a report issued on November 10, Northland Securities also assigned a Buy rating to the stock with a $15.00 price target.
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Based on Veritone’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $15.72 million and GAAP net loss of $11.01 million. In comparison, last year the company earned revenue of $12.81 million and had a GAAP net loss of $14.2 million.
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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.
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