Equities research analysts forecast that Veritone Inc (NASDAQ:VERI) will report sales of $10.79 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Veritone’s earnings, with estimates ranging from $10.77 million to $10.80 million. Veritone reported sales of $3.50 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 208.3%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, February 21st.
According to Zacks, analysts expect that Veritone will report full year sales of $26.89 million for the current fiscal year, with estimates ranging from $26.87 million to $26.90 million. For the next fiscal year, analysts expect that the firm will post sales of $45.09 million, with estimates ranging from $43.25 million to $47.57 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Veritone.
A number of research firms recently commented on VERI. Zacks Investment Research lowered Veritone from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. DA Davidson cut their price objective on Veritone to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, November 13th. Roth Capital cut their price objective on Veritone from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 13th. B. Riley raised Veritone from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $8.00 to $9.00 in a research note on Tuesday, November 13th. Finally, Craig Hallum cut their price objective on Veritone from $22.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.88.
Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its stake in Veritone by 2,915.0% in the fourth quarter. Barclays PLC now owns 7,447 shares of the company’s stock valued at $28,000 after buying an additional 7,200 shares during the period. Schwab Charles Investment Management Inc. acquired a new position in Veritone in the second quarter valued at approximately $194,000. Raymond James Financial Services Advisors Inc. acquired a new position in Veritone in the fourth quarter valued at approximately $52,000. AQR Capital Management LLC acquired a new position in Veritone in the third quarter valued at approximately $144,000. Finally, Jane Street Group LLC acquired a new position in Veritone in the second quarter valued at approximately $298,000. 17.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Veritone stock traded down $0.11 during midday trading on Friday, reaching $5.14. The company had a trading volume of 210,928 shares, compared to its average volume of 819,789. The firm has a market cap of $101.47 million, a P/E ratio of -1.12 and a beta of 2.77. Veritone has a fifty-two week low of $3.65 and a fifty-two week high of $24.76.
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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