Zacks: Brokerages Expect Veritone Inc (VERI) Will Post Quarterly Sales of $4.48 Million

Equities analysts expect Veritone Inc (NASDAQ:VERI) to post sales of $4.48 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Veritone’s earnings, with estimates ranging from $3.84 million to $5.20 million. The firm is expected to announce its next quarterly earnings report 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 financial year, analysts anticipate that the company will report sales of $30.27 million per share, with estimates ranging from $29.30 million to $31.24 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Veritone.

Veritone (NASDAQ:VERI) last released its earnings results on Monday, November 6th. The company reported ($1.31) EPS for the quarter, missing the Zacks’ 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 analyst estimates of $4.95 million. During the same period last year, the firm earned ($3.49) EPS. The company’s revenue for the quarter was up 60.3% compared to the same quarter last year.

A number of equities research analysts recently commented on the company. BidaskClub downgraded Veritone from a “sell” rating to a “strong sell” rating in a report on Thursday, January 11th. Zacks Investment Research reaffirmed a “hold” rating on shares of Veritone in a report on Saturday, January 13th. Craig Hallum set a $31.00 target price on Veritone and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Finally, B. Riley reaffirmed a “sell” rating and set a $15.00 target price on shares of Veritone in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $26.50.

Shares of Veritone (VERI) opened at $15.72 on Tuesday. Veritone has a twelve month low of $7.76 and a twelve month high of $74.92.

Several institutional investors have recently added to or reduced their stakes in VERI. SG Americas Securities LLC purchased a new position in Veritone during the third quarter valued at approximately $132,000. Schwab Charles Investment Management Inc. purchased a new position in Veritone during the third quarter valued at approximately $205,000. Quantbot Technologies LP purchased a new position in Veritone during the third quarter valued at approximately $263,000. First Republic Investment Management Inc. purchased a new position in Veritone during the third quarter valued at approximately $272,000. Finally, Wells Fargo & Company MN purchased a new position in Veritone during the third quarter valued at approximately $489,000. 6.23% of the stock is owned by hedge funds and other institutional investors.

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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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