Veritone, Inc. (NASDAQ:VERI) Expected to Post Earnings of -$0.10 Per Share

Wall Street analysts expect Veritone, Inc. (NASDAQ:VERIGet Rating) to post earnings of ($0.10) per share for the current quarter, Zacks reports. Three analysts have made estimates for Veritone’s earnings. The highest EPS estimate is ($0.08) and the lowest is ($0.12). Veritone reported earnings of ($0.12) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.7%. The firm is expected to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Veritone will report full year earnings of $0.34 per share for the current financial year, with EPS estimates ranging from $0.26 to $0.41. For the next fiscal year, analysts forecast that the business will post earnings of $0.58 per share, with EPS estimates ranging from $0.35 to $0.77. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Veritone.

Several research firms have recently weighed in on VERI. Stifel Nicolaus decreased their target price on Veritone from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, March 4th. Bank of America began coverage on Veritone in a research report on Wednesday, February 9th. They issued a “buy” rating and a $22.00 target price on the stock. Northland Securities decreased their target price on Veritone from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, March 4th. UBS Group assumed coverage on Veritone in a research report on Tuesday, April 12th. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, Zacks Investment Research downgraded Veritone from a “hold” rating to a “sell” rating in a research report on Saturday, March 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Veritone currently has an average rating of “Hold” and an average target price of $29.00.

In other Veritone news, Director G Louis Graziadio III bought 9,000 shares of Veritone stock in a transaction on Friday, March 11th. The shares were bought at an average price of $15.76 per share, for a total transaction of $141,840.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired 11,500 shares of company stock worth $179,715 in the last 90 days. Company insiders own 28.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Banta Asset Management LP raised its position in Veritone by 2.6% in the first quarter. Banta Asset Management LP now owns 2,378,538 shares of the company’s stock valued at $43,480,000 after purchasing an additional 59,524 shares during the period. Nordea Investment Management AB grew its stake in shares of Veritone by 1.8% in the first quarter. Nordea Investment Management AB now owns 387,441 shares of the company’s stock valued at $7,330,000 after buying an additional 7,011 shares in the last quarter. Barclays PLC grew its stake in shares of Veritone by 197.0% in the fourth quarter. Barclays PLC now owns 34,478 shares of the company’s stock valued at $775,000 after buying an additional 22,870 shares in the last quarter. BlackRock Inc. grew its stake in shares of Veritone by 2.9% in the fourth quarter. BlackRock Inc. now owns 1,892,229 shares of the company’s stock valued at $42,537,000 after buying an additional 53,902 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Veritone by 37.4% in the fourth quarter. Wells Fargo & Company MN now owns 21,814 shares of the company’s stock valued at $490,000 after buying an additional 5,942 shares in the last quarter. Institutional investors own 51.00% of the company’s stock.

NASDAQ VERI opened at $15.15 on Thursday. The company has a market cap of $531.16 million, a PE ratio of -7.11 and a beta of 3.04. The stock’s 50 day simple moving average is $17.02 and its 200-day simple moving average is $21.09. Veritone has a 1-year low of $13.06 and a 1-year high of $37.14. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.98 and a quick ratio of 1.98.

Veritone Company Profile (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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