Veritone, Inc. (NASDAQ:VERI) Issues Earnings Results
Veritone, Inc. (NASDAQ:VERI) announced its quarterly earnings results on Monday. The company reported ($1.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.20) by $0.13, Morningstar.com reports. The business had revenue of $4.09 million during the quarter, compared to the consensus estimate of $2.99 million.
Shares of Veritone (NASDAQ:VERI) traded down 2.27% during mid-day trading on Tuesday, hitting $9.05. The stock had a trading volume of 16,892 shares. Veritone has a 12-month low of $8.90 and a 12-month high of $15.64. The firm’s 50-day moving average price is $11.26 and its 200 day moving average price is $12.06. The stock’s market cap is $135.06 million.
A number of brokerages have issued reports on VERI. B. Riley reiterated a “buy” rating and set a $18.00 price target on shares of Veritone in a research report on Friday. Northland Securities set a $19.00 price target on Veritone and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Wunderlich reiterated a “buy” rating and set a $18.00 price target on shares of Veritone in a research report on Wednesday, June 21st. Finally, Craig Hallum began coverage on Veritone in a research report on Tuesday, June 6th. They set a “buy” rating for the company.
In other news, Director G Louis Graziadio III acquired 24,780 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were purchased at an average cost of $11.67 per share, for a total transaction of $289,182.60. Following the transaction, the director now owns 82,349 shares of the company’s stock, valued at $961,012.83. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
A hedge fund recently bought a new stake in Veritone stock. Perkins Capital Management Inc. acquired a new position in shares of Veritone, Inc. (NASDAQ:VERI) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 42,500 shares of the company’s stock, valued at approximately $498,000. Perkins Capital Management Inc. owned 0.28% of Veritone at the end of the most recent quarter. 0.37% of the stock is currently owned by institutional investors and hedge funds.
Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.
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