Veritone Inc (VERI) Expected to Post Quarterly Sales of $4.48 Million

Analysts expect Veritone Inc (NASDAQ:VERI) to report sales of $4.48 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Veritone’s earnings. The lowest sales estimate is $3.84 million and the highest is $5.20 million. The company is scheduled to issue its next quarterly earnings results on Monday, February 5th.

On average, analysts expect that Veritone will report full-year sales of $4.48 million for the current year, with estimates ranging from $14.75 million to $16.11 million. For the next year, analysts forecast that the business will post sales of $30.27 million per share, with estimates ranging from $29.30 million to $31.24 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Veritone.

Veritone (NASDAQ:VERI) last announced its quarterly earnings data on Monday, November 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.88). Veritone had a negative return on equity of 1,887.29% and a negative net margin of 416.28%. The firm had revenue of $3.72 million for the quarter, compared to the consensus estimate of $4.95 million. During the same quarter last year, the business earned ($3.49) earnings per share. The business’s revenue for the quarter was up 60.3% compared to the same quarter last year.

Several equities analysts recently issued reports on the company. BidaskClub cut Veritone from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 11th. Zacks Investment Research restated a “hold” rating on shares of Veritone in a research note on Saturday, January 13th. Craig Hallum set a $31.00 target price on Veritone and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Roth Capital reaffirmed a “buy” rating and issued a $62.00 target price (up from $13.20) on shares of Veritone in a research report on Friday, September 29th. Finally, B. Riley reaffirmed a “sell” rating and issued a $15.00 target price on shares of Veritone in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $26.50.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can increased its position in Veritone by 460.8% in the fourth quarter. Bank of Montreal Can now owns 12,118 shares of the company’s stock worth $281,000 after buying an additional 9,957 shares during the period. Jane Street Group LLC acquired a new stake in Veritone in the third quarter worth $1,107,000. First Republic Investment Management Inc. acquired a new stake in Veritone in the third quarter worth $272,000. Schwab Charles Investment Management Inc. acquired a new stake in Veritone in the third quarter worth $205,000. Finally, Wells Fargo & Company MN acquired a new stake in Veritone in the third quarter worth $489,000. 5.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Veritone (NASDAQ:VERI) traded up $0.55 on Friday, reaching $24.01. The company had a trading volume of 345,691 shares, compared to its average volume of 505,852. Veritone has a 52-week low of $7.76 and a 52-week high of $74.92. The company has a market capitalization of $367.54 and a PE ratio of -4.43.

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Veritone Company Profile

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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