Veritone (NASDAQ:VERI) issued its quarterly earnings data 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 company 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 firm’s revenue for the quarter was up 75.4% compared to the same quarter last year. During the same quarter last year, the company posted ($4.12) earnings per share.
Veritone (NASDAQ:VERI) traded up $0.30 during trading hours on Wednesday, reaching $14.66. 140,621 shares of the company’s stock were exchanged, 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 other news, CFO Peter F. Collins acquired 10,000 shares of Veritone stock in a transaction on Thursday, March 8th. The stock was acquired at an average cost of $14.16 per share, for a total transaction of $141,600.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
A hedge fund recently bought a new stake in Veritone stock. Northern Trust Corp acquired a new stake in shares of Veritone Inc (NASDAQ:VERI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission. 9.94% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on VERI shares. B. Riley reiterated a “sell” rating and issued a $15.00 price target on shares of Veritone in a research note on Wednesday, November 15th. Craig Hallum set a $31.00 price target on shares of Veritone and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. BidaskClub lowered shares of Veritone from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 11th. Finally, Roth Capital decreased their price target on shares of Veritone from $62.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.33.
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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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