Zacks: Brokerages Anticipate Veritone Inc (NASDAQ:VERI) Will Post Quarterly Sales of $12.15 Million

Equities analysts forecast that Veritone Inc (NASDAQ:VERI) will report $12.15 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Veritone’s earnings, with estimates ranging from $12.08 million to $12.21 million. Veritone posted sales of $10.95 million during the same quarter last year, which suggests a positive year over year growth rate of 11%. The firm is expected to announce its next quarterly earnings results on Thursday, February 20th.

On average, analysts expect that Veritone will report full year sales of $49.35 million for the current year, with estimates ranging from $49.28 million to $49.41 million. For the next financial year, analysts forecast that the firm will post sales of $55.59 million, with estimates ranging from $54.46 million to $56.72 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Veritone.

Veritone (NASDAQ:VERI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.35. Veritone had a negative return on equity of 103.93% and a negative net margin of 134.96%. The firm had revenue of $12.81 million during the quarter, compared to the consensus estimate of $12.75 million. During the same period in the prior year, the firm earned ($0.46) EPS. The firm’s quarterly revenue was up 69.7% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on VERI shares. Craig Hallum cut Veritone from a “buy” rating to a “hold” rating and cut their price target for the company from $14.00 to $3.00 in a report on Thursday, November 7th. JMP Securities cut their price target on Veritone to $7.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Zacks Investment Research raised Veritone from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Saturday. Northland Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of Veritone in a report on Thursday, November 7th. Finally, ValuEngine raised Veritone from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $5.75.

Shares of Veritone stock traded up $0.21 during trading hours on Friday, hitting $2.83. 563,500 shares of the company’s stock traded hands, compared to its average volume of 447,066. The stock has a 50 day simple moving average of $3.03 and a 200-day simple moving average of $5.80. The company has a market cap of $64.47 million, a PE ratio of -0.81 and a beta of 1.37. Veritone has a twelve month low of $2.43 and a twelve month high of $9.98.

In other news, Director G Louis Graziadio III bought 51,272 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $2.73 per share, with a total value of $139,972.56. Following the completion of the acquisition, the director now directly owns 107,790 shares in the company, valued at $294,266.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.00% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Creative Planning bought a new stake in Veritone during the third quarter worth approximately $361,000. Jane Street Group LLC bought a new stake in Veritone during the second quarter worth approximately $131,000. Citadel Advisors LLC bought a new stake in Veritone during the second quarter worth approximately $366,000. Paloma Partners Management Co bought a new stake in Veritone during the second quarter worth approximately $319,000. Finally, Vanguard Group Inc. grew its position in Veritone by 28.7% in the second quarter. Vanguard Group Inc. now owns 526,872 shares of the company’s stock worth $4,405,000 after buying an additional 117,586 shares during the last quarter. 18.46% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Veritone (NASDAQ:VERI)

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