Wall Street analysts expect Veritone (NASDAQ:VERI) to announce sales of $4.95 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Veritone’s earnings. The lowest sales estimate is $4.35 million and the highest is $5.60 million. Veritone posted sales of $4.09 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21%. The business is scheduled to report its next earnings report on Monday, August 6th.
According to Zacks, analysts expect that Veritone will report full year sales of $21.03 million for the current financial year, with estimates ranging from $18.65 million to $24.00 million. For the next year, analysts forecast that the company will report sales of $38.58 million per share, with estimates ranging from $30.15 million to $46.54 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Veritone.
Veritone (NASDAQ:VERI) last posted its quarterly earnings data on Tuesday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.73) by ($0.08). Veritone had a negative net margin of 425.69% and a negative return on equity of 98.44%. The company had revenue of $4.40 million for the quarter, compared to the consensus estimate of $3.97 million. The firm’s revenue was up 41.9% on a year-over-year basis.
A number of research analysts recently weighed in on VERI shares. Craig Hallum reaffirmed a “buy” rating and set a $23.00 price objective (down previously from $31.00) on shares of Veritone in a research report on Tuesday, February 27th. BidaskClub lowered Veritone from a “sell” rating to a “strong sell” rating in a research report on Sunday, February 4th. Zacks Investment Research lowered Veritone from a “hold” rating to a “sell” rating in a research report on Saturday, May 12th. DA Davidson started coverage on Veritone in a research report on Thursday, April 26th. They set a “buy” rating and a $25.00 price objective for the company. Finally, Cowen started coverage on Veritone in a research report on Monday, April 23rd. They set an “outperform” rating and a $30.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $21.38.
Veritone traded up $0.23, reaching $22.14, on Friday, MarketBeat.com reports. 100 shares of the company traded hands, compared to its average volume of 227,265. Veritone has a one year low of $7.76 and a one year high of $74.92. The firm has a market cap of $360.33 million and a PE ratio of -4.77.
In other news, Director G Louis Graziadio III purchased 12,400 shares of the company’s stock in a transaction dated Wednesday, March 14th. The shares were purchased at an average cost of $14.60 per share, for a total transaction of $181,040.00. Following the purchase, the director now directly owns 83,349 shares in the company, valued at approximately $1,216,895.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Peter F. Collins purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The stock was purchased at an average price of $14.16 per share, for a total transaction of $141,600.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 53,912 shares of company stock worth $932,277.
Several hedge funds have recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in shares of Veritone by 494.2% in the 1st quarter. UBS Group AG now owns 19,212 shares of the company’s stock worth $267,000 after buying an additional 15,979 shares during the last quarter. Uniplan Investment Counsel Inc. boosted its stake in shares of Veritone by 1.4% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 224,089 shares of the company’s stock worth $3,119,000 after buying an additional 2,995 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Veritone by 11.0% in the 1st quarter. Allianz Asset Management GmbH now owns 105,570 shares of the company’s stock worth $1,470,000 after buying an additional 10,440 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Veritone by 16.8% in the 4th quarter. Millennium Management LLC now owns 21,944 shares of the company’s stock worth $509,000 after buying an additional 3,149 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Veritone by 311.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 17,841 shares of the company’s stock worth $414,000 after buying an additional 13,500 shares during the last quarter. Hedge funds and other institutional investors own 9.14% of the company’s stock.
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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