Veritone (NASDAQ:VERI) issued its quarterly earnings data on Monday, February 26th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.24), Briefing.com reports. The business had revenue of $3.49 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned ($4.12) earnings per share.
Veritone (NASDAQ:VERI) traded up $0.30 on Wednesday, hitting $14.66. The stock had a trading volume of 140,621 shares, compared to its average volume of 319,122. The company has a market cap of $244.96 and a price-to-earnings ratio of -1.79. Veritone has a 1-year low of $7.76 and a 1-year high of $74.92.
In related news, CFO Peter F. Collins acquired 10,000 shares of Veritone stock in a transaction dated Thursday, March 8th. The stock was acquired at an average cost of $14.16 per share, with a total value of $141,600.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
An institutional investor recently bought a new position in Veritone stock. Northern Trust Corp acquired a new position in shares of Veritone Inc (NASDAQ:VERI) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 23,013 shares of the company’s stock, valued at approximately $269,000. Northern Trust Corp owned approximately 0.15% of Veritone as of its most recent SEC filing. Institutional investors and hedge funds own 9.94% of the company’s stock.
A number of equities analysts have issued reports on the company. BidaskClub lowered Veritone from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 11th. B. Riley decreased their price target on Veritone from $15.00 to $10.00 and set a “sell” rating for the company in a research note on Tuesday, February 27th. Craig Hallum reaffirmed a “buy” rating and set a $23.00 price target (down from $31.00) on shares of Veritone in a research note on Tuesday, February 27th. Roth Capital decreased their price target on Veritone from $62.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Veritone in a research note on Saturday, January 13th. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Veritone presently has a consensus rating of “Hold” and a consensus price target of $19.33.
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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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