Brokerages expect Veritone, Inc. (NASDAQ:VERI – Get Rating) to post $33.17 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Veritone’s earnings, with estimates ranging from $32.93 million to $33.50 million. Veritone posted sales of $18.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 81.3%. The firm is expected to announce its next quarterly earnings results after the market closes on Monday, January 1st.
On average, analysts expect that Veritone will report full-year sales of $186.91 million for the current year, with estimates ranging from $184.71 million to $189.70 million. For the next fiscal year, analysts forecast that the firm will report sales of $231.23 million, with estimates ranging from $227.70 million to $235.11 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Veritone.
Several equities research analysts have issued reports on VERI shares. UBS Group started coverage on shares of Veritone in a research note on Tuesday, April 12th. They issued a “neutral” rating and a $18.00 price target on the stock. Zacks Investment Research lowered shares of Veritone from a “hold” rating to a “sell” rating in a research note on Saturday, March 12th. Northland Securities lowered their price objective on shares of Veritone from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, March 4th. Bank of America assumed coverage on shares of Veritone in a research note on Wednesday, February 9th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of Veritone from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.00.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. boosted its holdings in Veritone by 150.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,500 shares of the company’s stock valued at $56,000 after purchasing an additional 1,500 shares during the period. Macquarie Group Ltd. bought a new stake in Veritone in the 3rd quarter valued at about $69,000. Manchester Capital Management LLC bought a new stake in Veritone in the 4th quarter valued at about $70,000. Ensign Peak Advisors Inc bought a new stake in Veritone in the 4th quarter valued at about $87,000. Finally, UBS Group AG boosted its holdings in Veritone by 50.5% in the 3rd quarter. UBS Group AG now owns 4,277 shares of the company’s stock valued at $102,000 after purchasing an additional 1,436 shares during the period. 51.00% of the stock is owned by hedge funds and other institutional investors.
VERI stock traded up $1.02 during midday trading on Friday, hitting $15.72. The company’s stock had a trading volume of 5,518 shares, compared to its average volume of 400,777. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.98 and a quick ratio of 1.98. Veritone has a twelve month low of $13.06 and a twelve month high of $37.14. The company’s fifty day moving average price is $16.96 and its 200 day moving average price is $21.01. The stock has a market capitalization of $551.14 million, a P/E ratio of -7.18 and a beta of 3.04.
Veritone Company Profile (Get Rating)
Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models, such as perception, prediction, and problem solving and optimization, as well as cognitive processes, including transcription, language translation, face detection and recognition, object detection and recognition, logo recognition, sentiment analysis, text keyword/topic analysis, audio/video fingerprinting, geolocation, visual moderation, and optical character recognition to reveal valuable insights from vast amounts of structured and unstructured data.
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