- Bank of America downgraded Veritone ( NASDAQ: VERI ) to Neutral from Buy on Wednesday, citing Amazon automation related risk.
- The firm lowered its price target to $10 from $14, still implying a potential upside of 42% from stock's last close.
- Seeking Alpha Quant Rating system issued warning on May 5, 2022 stating VERI is at high risk of performing badly .
- With the Strong Sell Rating, SA Quant analysis stand apart from Wall Street's Buy arguing VERI has decelerating momentum and inferior profitability when compared to other information technology stocks.
- Shares of VERI fell 1.6% midday , Wednesday, to trade at $6.92 vs. 52-week trading range of $5.74 to $37.14.
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Veritone tumbles after BofA pulls bull rating