Equities analysts expect that Veritone Inc (NASDAQ:VERI) will report earnings per share of ($0.86) for the current quarter, Zacks reports. Three analysts have made estimates for Veritone’s earnings. The highest EPS estimate is ($0.79) and the lowest is ($0.92). Veritone posted earnings of ($0.88) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The firm is expected to report its next quarterly earnings results on Monday, August 12th.
According to Zacks, analysts expect that Veritone will report full year earnings of ($3.27) per share for the current financial year, with EPS estimates ranging from ($3.36) to ($3.13). For the next year, analysts anticipate that the firm will report earnings of ($3.11) per share, with EPS estimates ranging from ($3.65) to ($2.57). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Veritone.
Veritone (NASDAQ:VERI) last announced its earnings results on Wednesday, May 8th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.41. Veritone had a negative net margin of 185.03% and a negative return on equity of 86.72%. The company had revenue of $12.13 million during the quarter, compared to analysts’ expectations of $11.58 million. During the same period last year, the company posted ($0.81) earnings per share. The business’s revenue for the quarter was up 176.3% on a year-over-year basis.
VERI has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Veritone from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. JMP Securities initiated coverage on shares of Veritone in a research report on Wednesday, April 3rd. They issued an “outperform” rating and a $10.00 price target for the company. Finally, Northland Securities reissued a “buy” rating and issued a $20.00 price target on shares of Veritone in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Veritone has a consensus rating of “Hold” and a consensus price target of $12.75.
Shares of VERI traded down $0.19 during midday trading on Friday, hitting $7.49. The stock had a trading volume of 440,653 shares, compared to its average volume of 527,054. Veritone has a fifty-two week low of $3.65 and a fifty-two week high of $24.00. The stock has a market cap of $156.23 million, a price-to-earnings ratio of -2.15 and a beta of 1.63.
In other Veritone news, insider Ryan Steelberg acquired 25,201 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average price of $9.89 per share, with a total value of $249,237.89. Following the completion of the transaction, the insider now owns 30,671 shares in the company, valued at $303,336.19. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 37.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp raised its position in Veritone by 2.6% during the first quarter. Northern Trust Corp now owns 98,095 shares of the company’s stock valued at $510,000 after acquiring an additional 2,511 shares in the last quarter. Geode Capital Management LLC raised its position in Veritone by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 91,543 shares of the company’s stock valued at $347,000 after acquiring an additional 4,209 shares in the last quarter. Spark Investment Management LLC raised its position in Veritone by 17.4% during the first quarter. Spark Investment Management LLC now owns 45,427 shares of the company’s stock valued at $236,000 after acquiring an additional 6,727 shares in the last quarter. Barclays PLC raised its position in Veritone by 2,915.0% during the fourth quarter. Barclays PLC now owns 7,447 shares of the company’s stock valued at $28,000 after acquiring an additional 7,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Veritone by 49.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,863 shares of the company’s stock valued at $119,000 after acquiring an additional 7,563 shares in the last quarter. 17.93% of the stock is currently owned by hedge funds and other institutional investors.
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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