$33.17 Million in Sales Expected for Veritone, Inc. (NASDAQ:VERI) This Quarter

Analysts expect Veritone, Inc. (NASDAQ:VERIGet Rating) to report $33.17 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Veritone’s earnings, with the lowest sales estimate coming in at $32.93 million and the highest estimate coming in at $33.50 million. Veritone posted sales of $18.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 81.3%. The business is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Veritone will report full-year sales of $186.91 million for the current year, with estimates ranging from $184.71 million to $189.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $231.23 million, with estimates ranging from $227.70 million to $235.11 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Veritone.

Several research analysts have recently commented on VERI shares. Northland Securities dropped their price target on shares of Veritone from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, March 4th. Zacks Investment Research lowered shares of Veritone from a “hold” rating to a “sell” rating in a research note on Saturday, March 12th. Bank of America started coverage on shares of Veritone in a research note on Wednesday, February 9th. They set a “buy” rating and a $22.00 price target on the stock. UBS Group started coverage on shares of Veritone in a research note on Tuesday. They set a “neutral” rating and a $18.00 price target on the stock. Finally, Stifel Nicolaus dropped their price target on shares of Veritone from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.00.

Veritone stock opened at $15.15 on Friday. The firm has a market cap of $531.16 million, a PE ratio of -7.11 and a beta of 3.04. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.98 and a current ratio of 1.98. The firm’s 50 day moving average price is $17.02 and its two-hundred day moving average price is $21.10. Veritone has a twelve month low of $13.06 and a twelve month high of $37.14.

In other news, Director G Louis Graziadio III acquired 9,000 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The stock was acquired at an average cost of $15.76 per share, with a total value of $141,840.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have purchased 11,500 shares of company stock valued at $179,715. 28.90% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. boosted its holdings in Veritone by 150.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,500 shares of the company’s stock valued at $56,000 after purchasing an additional 1,500 shares during the period. Macquarie Group Ltd. bought a new stake in Veritone in the 3rd quarter valued at $69,000. Manchester Capital Management LLC bought a new stake in Veritone in the 4th quarter valued at $70,000. Ensign Peak Advisors Inc bought a new position in shares of Veritone during the 4th quarter worth about $87,000. Finally, UBS Group AG lifted its holdings in shares of Veritone by 50.5% during the 3rd quarter. UBS Group AG now owns 4,277 shares of the company’s stock worth $102,000 after acquiring an additional 1,436 shares during the period. 51.00% of the stock is owned by hedge funds and other institutional investors.

About Veritone (Get Rating)

Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models, such as perception, prediction, and problem solving and optimization, as well as cognitive processes, including transcription, language translation, face detection and recognition, object detection and recognition, logo recognition, sentiment analysis, text keyword/topic analysis, audio/video fingerprinting, geolocation, visual moderation, and optical character recognition to reveal valuable insights from vast amounts of structured and unstructured data.

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