Veritone price target lowered to $8 from $11 at Roth MKM

Roth MKM analyst Darren Aftahi lowered the firm’s price target on Veritone (VERI) to $8 from $11 but keeps a Buy rating on the shares. Amazon (AMZN) weighed on the company’s Pando business as expected as it fell 49% while representing 18% of consolidated sales, the analyst tells investors in a research note. Roth MKM adds however that Veritone is getting closer to the bottom for both the stock and estimates, and the company may be one quarter away from returning to growth.