Analyst Scott Buck of H.C. Wainwright reiterated a Buy rating on Veritone (VERI – Research Report), retaining the price target of $6.00.
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Scott Buck has given his Buy rating due to a combination of factors including Veritone’s recent contract wins and strategic business updates that are expected to drive significant revenue growth in the coming years. The company’s recent agreements, such as those with the Department of the Air Force and Riverside County Sheriff’s Office, are anticipated to contribute to a substantial increase in revenue, particularly in the second half of 2025. Additionally, Veritone’s cost restructuring initiatives, which have already led to significant expense reductions, are expected to improve operating leverage and accelerate the company’s path to profitability.
Furthermore, Scott Buck notes that Veritone’s revenue estimates for 2025 and 2026 have been adjusted upwards, reflecting the company’s strong demand and the successful launch of its Veritone Data Refinery platform. The valuation of Veritone’s shares at a $6 price target represents a significant upside from current trading levels, and the company’s potential for improved financial performance in 2025 could lead to a revaluation towards peer levels. Despite the risks associated with dilution, competition, and execution, Buck believes that the company’s strategic initiatives position it well for future growth, justifying the Buy rating.
Buck covers the Technology sector, focusing on stocks such as Intellicheck Mobilisia, Widepoint, and Usio. According to TipRanks, Buck has an average return of -15.0% and a 26.21% success rate on recommended stocks.