Veritone, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Joshua Reilly from Needham maintained a Buy rating on the stock and has a $10.00 price target.
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Joshua Reilly has given his Buy rating due to a combination of factors that highlight Veritone’s strategic positioning in the AI and data economy. The company is poised to leverage its unique capabilities in transforming unstructured data into valuable tokens, which can be utilized in various applications and for indexing and search purposes.
Reilly’s confidence is further bolstered by Veritone’s clear product and go-to-market strategy aimed at licensing unstructured data to major cloud service providers. Additionally, the company’s recent earnings call emphasized a strong pipeline for Veritone’s VDR product and a growing customer base, reinforcing the positive outlook for the stock.