Analysts expect Veritone Inc (NASDAQ:VERI) to announce ($0.72) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Veritone’s earnings. The highest EPS estimate is ($0.69) and the lowest is ($0.77). Veritone posted earnings of ($0.83) per share in the same quarter last year, which suggests a positive year over year growth rate of 13.3%. The firm is expected to issue its next earnings report after the market closes on Thursday, February 21st.
According to Zacks, analysts expect that Veritone will report full-year earnings of ($3.26) per share for the current year, with EPS estimates ranging from ($3.31) to ($3.23). For the next financial year, analysts expect that the company will report earnings of ($2.84) per share, with EPS estimates ranging from ($3.00) to ($2.72). Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Veritone.
Veritone (NASDAQ:VERI) last released its quarterly earnings data on Monday, November 12th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). The business had revenue of $7.55 million during the quarter, compared to analysts’ expectations of $6.03 million. Veritone had a negative return on equity of 86.60% and a negative net margin of 286.28%. The company’s quarterly revenue was up 102.9% compared to the same quarter last year. During the same quarter last year, the business posted ($1.31) EPS.
VERI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Veritone from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a research note on Wednesday, October 17th. Craig Hallum lowered their target price on Veritone from $22.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. DA Davidson lowered their target price on Veritone to $12.00 and set a “buy” rating for the company in a research note on Tuesday, November 13th. Roth Capital lowered their target price on Veritone from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, November 13th. Finally, B. Riley upgraded Veritone from a “sell” rating to a “neutral” rating and raised their target price for the company from $8.00 to $9.00 in a research note on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.88.
VERI opened at $5.36 on Thursday. The company has a market capitalization of $105.72 million, a PE ratio of -1.17 and a beta of 2.77. Veritone has a 52 week low of $3.65 and a 52 week high of $24.76.
In other Veritone news, major shareholder Research Corp Acacia sold 200,000 shares of Veritone stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $6.22, for a total transaction of $1,244,000.00. Following the completion of the transaction, the insider now owns 1,537,245 shares in the company, valued at $9,561,663.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 1,950,000 shares of company stock valued at $10,061,500. 37.00% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. purchased a new position in Veritone during the second quarter valued at $194,000. Raymond James Financial Services Advisors Inc. purchased a new position in Veritone during the fourth quarter valued at $52,000. AQR Capital Management LLC purchased a new position in Veritone during the third quarter valued at $144,000. Jane Street Group LLC purchased a new position in Veritone during the second quarter valued at $298,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in Veritone during the fourth quarter valued at $76,000. Institutional investors and hedge funds own 17.78% of the company’s stock.
Veritone Company Profile
Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.
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