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

Veritone Inc. (NASDAQ:VERI) is one of the best AI stocks to buy under $20. On October 23, analysts at Needham initiated coverage of Veritone Inc. (NASDAQ:VERI) with a ‘Buy’ rating and a $10 price target. The buy rating comes on the heels of strong momentum, with the stock rallying 180% over the past six months.

Consequently, the research firm expects the stock to continue outperforming the overall market, driven by growth in various segments as it pursues targeted market opportunities. The momentum should be driven by growth in the aiWARE, the company’s open AI platform that allows customers to transform unstructured data into structured business outcomes.

Additionally, Needham expects Veritone to benefit from growth in the AI data training market, Public Sector application sales, and aiWARE platform sales across various end markets.

Veritone Inc. (NASDAQ:VERI) is an enterprise AI company that develops software and services to transform unstructured data, such as audio and video, into actionable intelligence. Its core platform, aiWARE, is an AI operating system that orchestrates various AI models to automate tasks and improve efficiency for industries such as media and entertainment, public sector, legal, and talent acquisition.

While we acknowledge the potential of VERI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.