Veritone (VERI) has received a new Buy rating, initiated by Needham analyst, Joshua Reilly.
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Joshua Reilly has given his Buy rating due to a combination of factors that highlight Veritone’s potential for continued success in its targeted markets. The company’s open AI platform, aiWARE, is a key asset that enables clients to convert unstructured data into structured, actionable insights across various industries. This flexibility allows customers to integrate top-tier open-source and third-party AI models, enhancing the platform’s versatility and appeal.
Reilly identifies three primary growth drivers that support his optimistic outlook: the expansion of Veritone’s VDR and AI data training market, the increasing sales within the public sector, and the broadening adoption of the aiWARE platform across multiple vertical markets. These elements collectively underscore Veritone’s capacity to outperform and achieve its projected price target of $10, justifying the Buy rating.
In another report released on October 20, H.C. Wainwright also reiterated a Buy rating on the stock with a $9.00 price target.