Veritone Inc (NASDAQ:VERI) Expected to Announce Quarterly Sales of $12.15 Million

Equities research analysts expect Veritone Inc (NASDAQ:VERI) to report sales of $12.15 million for the current quarter, according to Zacks. Two analysts have issued estimates for Veritone’s earnings, with estimates ranging from $12.08 million to $12.21 million. Veritone reported sales of $10.95 million during the same quarter last year, which would suggest a positive year over year growth rate of 11%. The company is expected to issue its next quarterly earnings report on Thursday, February 20th.

According to Zacks, 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 fiscal year, analysts expect that the firm will post sales of $55.59 million, with estimates ranging from $54.46 million to $56.72 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Veritone.

Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $12.81 million for the quarter, compared to the consensus estimate of $12.75 million. During the same period in the prior year, the business earned ($0.46) EPS. The firm’s revenue for the quarter was up 69.7% on a year-over-year basis.

A number of analysts have commented on the company. Northland Securities reissued a “buy” rating and set a $10.00 price objective on shares of Veritone in a report on Thursday, November 7th. Craig Hallum lowered Veritone from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $14.00 to $3.00 in a report on Thursday, November 7th. JMP Securities decreased their price objective on Veritone to $7.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Zacks Investment Research raised Veritone from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a report on Saturday, November 16th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Veritone currently has a consensus rating of “Buy” and a consensus target price of $5.75.

In related news, Director G Louis Graziadio III acquired 20,550 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $2.99 per share, with a total value of $61,444.50. Following the acquisition, the director now owns 128,340 shares of the company’s stock, valued at approximately $383,736.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired a total of 102,718 shares of company stock valued at $282,983 over the last three months. Corporate insiders own 37.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of VERI. Paloma Partners Management Co purchased a new stake in shares of Veritone during the second quarter worth $319,000. Citadel Advisors LLC purchased a new stake in shares of Veritone in the second quarter worth $366,000. Herald Investment Management Ltd raised its position in shares of Veritone by 84.3% in the third quarter. Herald Investment Management Ltd now owns 190,000 shares of the company’s stock worth $674,000 after buying an additional 86,922 shares in the last quarter. Northern Trust Corp raised its position in shares of Veritone by 26.3% in the second quarter. Northern Trust Corp now owns 123,846 shares of the company’s stock worth $1,036,000 after buying an additional 25,751 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of 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 in the last quarter. 14.19% of the stock is owned by hedge funds and other institutional investors.

VERI stock traded down $0.10 during trading on Monday, reaching $2.72. 219,493 shares of the stock were exchanged, compared to its average volume of 382,674. The firm’s 50 day moving average is $2.88 and its 200 day moving average is $5.20. The firm has a market cap of $68.41 million, a P/E ratio of -0.78 and a beta of 1.44. Veritone has a twelve month low of $2.43 and a twelve month high of $9.98.

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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