Veritone (NASDAQ:VERI) issued its earnings results on Monday, February 26th. The company reported ($0.83) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.24), Briefing.com reports. The business had revenue of $3.49 million during the quarter, compared to analyst estimates of $4.41 million. Veritone had a negative return on equity of 252.85% and a negative net margin of 413.52%. The business’s quarterly revenue was up 75.4% on a year-over-year basis. During the same period last year, the business earned ($4.12) EPS.
Veritone (NASDAQ:VERI) traded up $0.30 on Wednesday, reaching $14.66. The company had a trading volume of 140,621 shares, compared to its average volume of 319,122. The firm has a market capitalization of $244.96 and a PE ratio of -1.79. Veritone has a 52-week low of $7.76 and a 52-week high of $74.92.
VERI has been the subject of several recent analyst reports. Zacks Investment Research cut Veritone from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. B. Riley reaffirmed a “sell” rating and issued a $15.00 target price on shares of Veritone in a research report on Thursday, December 21st. 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. BidaskClub raised Veritone from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 24th. Finally, Roth Capital reduced their price objective on Veritone from $62.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.33.
In other news, CFO Peter F. Collins acquired 10,000 shares of Veritone stock in a transaction that occurred on Thursday, March 8th. The stock was purchased at an average price of $14.16 per share, with a total value of $141,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
An institutional investor recently bought a new position in Veritone stock. Vanguard Group Inc. acquired a new stake in shares of Veritone Inc (NASDAQ:VERI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,231 shares of the company’s stock, valued at approximately $132,000. Vanguard Group Inc. owned about 0.08% of Veritone at the end of the most recent quarter. 9.94% of the stock is owned by institutional investors and hedge funds.
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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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