Veritone (VERI) Set to Announce Earnings on Wednesday

Veritone (NASDAQ:VERI) is set to release its earnings data before the market opens on Wednesday, November 8th. Analysts expect Veritone to post earnings of ($0.19) per share for the quarter. Veritone has set its FY 2023 guidance at EPS and its Q3 2023 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Veritone (NASDAQ:VERI) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.05). The company had revenue of $27.97 million for the quarter, compared to the consensus estimate of $27.65 million. Veritone had a negative return on equity of 66.76% and a negative net margin of 32.97%. On average, analysts expect Veritone to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Veritone Stock Up 1.2 %

Veritone stock opened at $2.60 on Monday. The company has a market cap of $96.20 million, a P/E ratio of -1.64 and a beta of 3.15. Veritone has a 1-year low of $2.17 and a 1-year high of $10.99. The company has a fifty day simple moving average of $2.59 and a 200 day simple moving average of $3.47. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 3.54.

Institutional Investors Weigh In On Veritone

A number of institutional investors have recently added to or reduced their stakes in VERI. Quantbot Technologies LP bought a new stake in Veritone during the 2nd quarter worth approximately $35,000. Advisor Group Holdings Inc. lifted its position in shares of Veritone by 87.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 6,450 shares of the company’s stock worth $35,000 after purchasing an additional 3,000 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Veritone in the 4th quarter worth approximately $37,000. PNC Financial Services Group Inc. acquired a new position in shares of Veritone in the 1st quarter worth approximately $43,000. Finally, Barclays PLC lifted its position in shares of Veritone by 533.5% during the 4th quarter. Barclays PLC now owns 8,400 shares of the company’s stock valued at $45,000 after acquiring an additional 7,074 shares during the period. 37.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Roth Mkm cut shares of Veritone from a “neutral” rating to a “sell” rating and cut their target price for the stock from $3.50 to $2.00 in a research note on Wednesday, August 9th. Roth Capital cut shares of Veritone from a “neutral” rating to a “sell” rating in a research note on Wednesday, August 9th.

About Veritone

Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions and services 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 and human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.