Zacks: Analysts Expect Veritone, Inc. (NASDAQ:VERI) to Post -$0.09 EPS

Wall Street analysts expect Veritone, Inc. (NASDAQ:VERI – Get Rating) to announce ($0.09) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Veritone’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at ($0.08). Veritone posted earnings per share of ($0.12) during the same quarter last year, which indicates a positive year over year growth rate of 25%. The firm is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Veritone will report full year earnings of $0.24 per share for the current year, with EPS estimates ranging from $0.12 to $0.31. For the next financial year, analysts anticipate that the company will post earnings of $0.53 per share, with EPS estimates ranging from $0.22 to $0.73. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Veritone.

Veritone (NASDAQ:VERI – Get Rating) last posted its quarterly earnings results on Thursday, March 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.42). The company had revenue of $55.15 million during the quarter, compared to analysts’ expectations of $44.65 million. Veritone had a negative return on equity of 76.51% and a negative net margin of 52.10%.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Veritone from a “sell” rating to a “hold” rating in a research report on Thursday. JMP Securities decreased their target price on Veritone from $49.00 to $24.00 in a research report on Friday, April 29th. Stifel Nicolaus decreased their target price on Veritone from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, March 4th. Craig Hallum decreased their target price on Veritone from $19.00 to $12.00 in a research report on Wednesday. Finally, UBS Group assumed coverage on Veritone in a research report on Tuesday, April 12th. They issued a “neutral” rating and a $18.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.00.

In other Veritone news, Director G Louis Graziadio III purchased 9,000 shares of Veritone stock in a transaction dated Friday, March 11th. The stock was purchased at an average price of $15.76 per share, with a total value of $141,840.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 11,500 shares of company stock valued at $179,715 in the last ninety days. Insiders own 28.90% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. boosted its stake in Veritone by 150.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,500 shares of the company’s stock worth $56,000 after purchasing an additional 1,500 shares during the period. Private Capital Group LLC bought a new position in Veritone in the 1st quarter worth approximately $64,000. Macquarie Group Ltd. bought a new position in Veritone in the 3rd quarter worth approximately $69,000. Manchester Capital Management LLC bought a new position in Veritone in the 4th quarter worth approximately $70,000. Finally, Ensign Peak Advisors Inc bought a new position in Veritone in the 4th quarter worth approximately $87,000. Institutional investors own 49.82% of the company’s stock.

VERI opened at $9.06 on Thursday. The stock has a 50-day moving average price of $15.68 and a 200-day moving average price of $19.98. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.98 and a quick ratio of 1.98. The firm has a market cap of $326.70 million, a PE ratio of -4.58 and a beta of 3.17. Veritone has a 1 year low of $8.98 and a 1 year high of $37.14.

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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