Veritone, Inc. (NASDAQ:VERI) Expected to Post Earnings of -$0.09 Per Share

Equities research analysts expect Veritone, Inc. (NASDAQ:VERIGet Rating) to report ($0.09) earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Veritone’s earnings. The lowest EPS estimate is ($0.09) and the highest is ($0.08). Veritone posted earnings per share of ($0.12) during the same quarter last year, which would suggest a positive year over year growth rate of 25%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, 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 year, analysts forecast that the company will report earnings of $0.53 per share, with EPS estimates ranging from $0.22 to $0.73. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Veritone.

Veritone (NASDAQ:VERIGet Rating) last announced its earnings results on Thursday, March 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.42). Veritone had a negative net margin of 52.10% and a negative return on equity of 84.40%. The business had revenue of $55.15 million for the quarter, compared to analysts’ expectations of $44.65 million.

A number of research analysts have recently issued reports on VERI shares. UBS Group started coverage on Veritone in a research report on Tuesday, April 12th. They set a “neutral” rating and a $18.00 target price on the stock. JMP Securities decreased their target price on Veritone from $49.00 to $24.00 in a research report on Friday, April 29th. Zacks Investment Research upgraded Veritone from a “sell” rating to a “hold” rating in a research report on Thursday, May 5th. Northland Securities decreased their price objective on Veritone from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, March 4th. Finally, Stifel Nicolaus decreased their price objective on Veritone from $25.00 to $23.00 and set a “hold” rating on the stock in a report on Friday, March 4th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.00.

Shares of NASDAQ:VERI opened at $7.35 on Thursday. Veritone has a 1 year low of $7.15 and a 1 year high of $37.14. The firm has a market capitalization of $265.10 million, a price-to-earnings ratio of -3.71 and a beta of 3.17. The company has a debt-to-equity ratio of 3.49, a current ratio of 2.03 and a quick ratio of 2.03. The business’s 50 day moving average price is $13.56 and its 200-day moving average price is $18.06.

In related news, Director G Louis Graziadio III bought 9,000 shares of the business’s stock in a transaction 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 11,500 shares of company stock valued at $179,715 over the last ninety days. Corporate insiders own 28.90% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Banta Asset Management LP increased its position in shares of Veritone by 2.6% during the 1st quarter. Banta Asset Management LP now owns 2,378,538 shares of the company’s stock worth $43,480,000 after purchasing an additional 59,524 shares during the last quarter. BlackRock Inc. increased its position in shares of Veritone by 0.3% during the 1st quarter. BlackRock Inc. now owns 1,897,898 shares of the company’s stock worth $34,695,000 after purchasing an additional 5,669 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Veritone by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 1,695,942 shares of the company’s stock worth $31,002,000 after purchasing an additional 87,017 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Veritone by 14.4% during the 4th quarter. Handelsbanken Fonder AB now owns 1,518,999 shares of the company’s stock worth $34,147,000 after purchasing an additional 190,845 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Veritone by 136.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,080,918 shares of the company’s stock worth $25,824,000 after purchasing an additional 622,919 shares during the last quarter. 49.82% of the stock is owned by hedge funds and other institutional investors.

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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