Veritone (VERI) has received a new Buy rating, initiated by H.C. Wainwright analyst, Scott Buck.
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Scott Buck has given his Buy rating due to a combination of factors that highlight Veritone’s potential for significant growth and profitability. The company’s focus on enterprise AI software, which efficiently processes large volumes of unstructured data into actionable intelligence, sets it apart from competitors that rely heavily on third-party models. This unique position is expected to drive increased demand from both digital content creators and public sector entities looking to manage digital evidence effectively.
Veritone’s recent contract wins and a strong pipeline exceeding $110 million suggest a return to double-digit revenue growth in 2025 and 2026, reversing previous revenue declines. These factors, combined with expanding gross margins and disciplined expense management, are forecasted to lead to non-GAAP profitability by 2026. The company’s robust SaaS model, characterized by high revenue retention and multi-year contracts, further enhances revenue visibility and investor confidence in Veritone’s ability to meet its financial targets.
According to TipRanks, Buck is an analyst with an average return of -4.6% and a 30.57% success rate. Buck covers the Technology sector, focusing on stocks such as Arqit Quantum, Lightpath Technologies, and Mitek Systems.