I like small-cap companies under $20 per share and under 2 Billion in market cap. Companies with technology that could disrupt their industry. Veritone is one of those companies.
Veritone (VERI)- Veritone has been one of my favorite stocks for the past year or so. Its a relatively new company in the AI space that went public in 2017. According to finviz Veritone's technology is an "AI operating system that integrates and orchestrates a range of cognitive engines to reveal multivariate insights from structured and unstructured data, as well as to conduct cognitive workflows based on these insights." They serve the media and entertainment, legal and compliance, and government markets. The bullish case for Veritone:
They have a big head start in their field and no company does what they do.
The Steelbergs, brothers Chad CEO and Ryan, Cofounder have founded and sold 3 other companies since 1998. Notably AdForce for $500 million to CMGI and dMarc Broadcasting to Google in 2006.
Business is picking up as Veritone recently inked new deals with U.S. Airforce, U.S. Dept. of Justice, Getty Images, Purple, CBS News, and the San Francisco Giants just to name a few.
Veritone rejected an unsolicited buyout offer from Apis Capital Management in December 2018 for $10.26 per share.
Veritone's stock price has been consolidating recently and bounced off the 200 day moving average.
2020 price target $18. Looking for a 2-3 year price target of $60