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Fly News Breaks for November 7, 2019
VERI
Nov 7, 2019 | 09:02 EDT
Craig-Hallum analyst Chad Bennett downgraded Veritone to Hold from Buy with a price target of $3, down from $4 following the company's Q3 results. In a research note to investors, Bennett says he is "disappointed" by the substantial deceleration in revenue growth, especially in the aiWARE business. Bennett tells investors in a research note that the company started cost cutting efforts, but says revenue needs to accelerate meaningfully or cost cuts need to be deeper for the stock to work.
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