$17.34 Million in Sales Expected for Veritone, Inc. (NASDAQ:VERI) This Quarter


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Analysts predict that Veritone, Inc. (NASDAQ:VERI) will announce sales of $17.34 million for the current quarter, according to Zacks. Three analysts have made estimates for Veritone’s earnings. The lowest sales estimate is $17.25 million and the highest is $17.40 million. Veritone posted sales of $11.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 45.7%. The firm is expected to issue its next quarterly earnings results after the market closes on Tuesday, May 4th.

According to Zacks, analysts expect that Veritone will report full-year sales of $78.33 million for the current financial year, with estimates ranging from $77.25 million to $79.20 million. For the next financial year, analysts anticipate that the company will post sales of $97.72 million, with estimates ranging from $94.42 million to $100.30 million. Zacks’ sales averages are an average based on a survey of research firms that cover Veritone.

Veritone (NASDAQ:VERI) last posted its quarterly earnings data on Thursday, March 4th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.25. Veritone had a negative net margin of 94.44% and a negative return on equity of 122.72%.

Several equities research analysts recently commented on VERI shares. Roth Capital boosted their price objective on shares of Veritone from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, March 11th. JMP Securities lifted their target price on shares of Veritone from $21.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, March 5th. Zacks Investment Research cut shares of Veritone from a “hold” rating to a “sell” rating in a report on Thursday, March 11th. Stifel Nicolaus initiated coverage on shares of Veritone in a report on Monday, December 21st. They issued a “hold” rating and a $25.00 target price for the company. Finally, Northland Securities lifted their target price on shares of Veritone from $15.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, March 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $33.43.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its holdings in shares of Veritone by 28.9% during the fourth quarter. Advisory Services Network LLC now owns 4,461 shares of the company’s stock valued at $127,000 after purchasing an additional 1,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Veritone by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 8,723 shares of the company’s stock valued at $82,000 after buying an additional 1,001 shares during the last quarter. Rhumbline Advisers increased its holdings in Veritone by 6.8% during the fourth quarter. Rhumbline Advisers now owns 29,128 shares of the company’s stock valued at $829,000 after buying an additional 1,863 shares during the last quarter. California Public Employees Retirement System increased its holdings in Veritone by 4.5% during the third quarter. California Public Employees Retirement System now owns 48,600 shares of the company’s stock valued at $445,000 after buying an additional 2,100 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Veritone by 5.5% during the third quarter. Wells Fargo & Company MN now owns 47,099 shares of the company’s stock valued at $431,000 after buying an additional 2,448 shares during the last quarter. 28.10% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:VERI traded up $1.81 during mid-day trading on Friday, hitting $27.01. 1,209,906 shares of the company’s stock were exchanged, compared to its average volume of 918,173. Veritone has a one year low of $2.97 and a one year high of $50.34. The business has a fifty day moving average price of $29.14 and a 200 day moving average price of $25.96. The company has a market cap of $872.40 million, a PE ratio of -14.14 and a beta of 3.55.

Veritone Company Profile

Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. The company develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models, such as cognitive queries, predictions, correlations, and analyses in real-time using AI models in various categories comprising transcription, face recognition, and object recognition to reveal valuable insights from vast amounts of structured and unstructured data.

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