Veritone upgraded to Neutral from Sell at Roth MKM

Roth MKM analyst Darren Aftahi upgraded Veritone to Neutral from Sell with a price target of $1.85, down from $2. With comparables beginning to ease for the company in Q4 and again in Q1 once it laps Amazon’s lower hiring, Veritone should begin to gain traction for a return to growth on a like-for-like basis by mid-2024, the analyst tells investors in a research note. The firm says the potential return to growth, downsized cost structure, improved liquidity, and cross-selling opportunities suggest the stock’s downside risk has mitigated.