Needham Initiates ‘Buy’ Rating on Veritone Inc. (VERI) with a $10 Price Target

Core Viewpoint - Veritone Inc. (NASDAQ:VERI) is highlighted as a promising AI stock under $20, with a recent 'Buy' rating initiated by Needham and a price target of $10, following a significant stock rally of 180% over the past six months [1][2]. Company Overview - Veritone Inc. is an enterprise AI company that specializes in developing software and services aimed at transforming unstructured data, such as audio and video, into actionable intelligence [4]. - The company's core platform, aiWARE, functions as an AI operating system that integrates various AI models to automate tasks and enhance efficiency across multiple industries, including media and entertainment, public sector, legal, and talent acquisition [4]. Market Opportunities - Needham anticipates that Veritone will continue to outperform the market, driven by growth in several segments as the company targets specific market opportunities [2]. - The expected momentum is attributed to advancements in the aiWARE platform, which allows customers to convert unstructured data into structured business outcomes [2]. - Additionally, Veritone is projected to benefit from growth in the AI data training market, public sector application sales, and aiWARE platform sales across diverse end markets [3].