Brokerages forecast that Veritone Inc (NASDAQ:VERI) will report sales of $10.53 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Veritone’s earnings, with the highest sales estimate coming in at $10.98 million and the lowest estimate coming in at $10.06 million. Veritone reported sales of $4.39 million during the same quarter last year, which indicates a positive year-over-year growth rate of 139.9%. The business is scheduled to report its next earnings results on Tuesday, May 14th.
According to Zacks, analysts expect that Veritone will report full year sales of $45.09 million for the current financial year, with estimates ranging from $43.25 million to $47.57 million. For the next year, analysts expect that the business will report sales of $61.37 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Veritone.
Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Thursday, February 21st. The company reported ($0.92) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.20). Veritone had a negative return on equity of 92.64% and a negative net margin of 225.92%. The business had revenue of $10.95 million during the quarter, compared to analysts’ expectations of $10.79 million.
A number of research analysts recently commented on VERI shares. Roth Capital lowered their price target on Veritone from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, November 13th. B. Riley raised Veritone from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $8.00 to $9.00 in a report on Tuesday, November 13th. DA Davidson lowered their price target on Veritone to $12.00 and set a “buy” rating on the stock in a report on Tuesday, November 13th. Finally, Craig Hallum lowered their price target on Veritone from $22.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.88.
NASDAQ VERI traded up $0.18 during trading hours on Friday, reaching $5.28. The company’s stock had a trading volume of 1,392,712 shares, compared to its average volume of 617,808. Veritone has a 1 year low of $3.65 and a 1 year high of $24.76. The stock has a market cap of $98.57 million, a PE ratio of -1.52 and a beta of 2.77.
In other news, major shareholder Research Corp Acacia sold 200,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,537,245 shares of the company’s stock, valued at approximately $9,561,663.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,950,000 shares of company stock worth $10,061,500 over the last ninety days. Insiders own 37.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Veritone by 2,915.0% during the 4th quarter. Barclays PLC now owns 7,447 shares of the company’s stock valued at $28,000 after purchasing an additional 7,200 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of Veritone during the 2nd quarter valued at approximately $194,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Veritone during the 4th quarter valued at approximately $52,000. AQR Capital Management LLC bought a new position in shares of Veritone during the 3rd quarter valued at approximately $144,000. Finally, Jane Street Group LLC bought a new position in shares of Veritone during the 2nd quarter valued at approximately $298,000. 19.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Story: The components of the Stochastic Momentum Index
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Veritone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritone and related companies with MarketBeat.com's FREE daily email newsletter.