Equities research analysts expect Veritone, Inc. (NASDAQ:VERI) to announce $0.12 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Veritone’s earnings, with estimates ranging from ($0.15) to $0.21. Veritone posted earnings per share of ($0.14) in the same quarter last year, which suggests a positive year-over-year growth rate of 185.7%. The company is expected to report its next quarterly earnings results on Thursday, March 3rd.
According to Zacks, analysts expect that Veritone will report full year earnings of ($0.23) per share for the current financial year, with EPS estimates ranging from ($0.76) to ($0.01). For the next financial year, analysts forecast that the business will report earnings of $0.12 per share, with EPS estimates ranging from ($0.52) to $0.45. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Veritone.
Veritone (NASDAQ:VERI) last announced its earnings results on Tuesday, November 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.28. Veritone had a negative net margin of 87.19% and a negative return on equity of 74.18%. During the same quarter last year, the firm earned ($0.40) earnings per share.
A number of brokerages recently issued reports on VERI. JMP Securities raised their price target on Veritone from $45.00 to $49.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 10th. Zacks Investment Research upgraded Veritone from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, November 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $39.20.
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In other news, President Ryan Steelberg acquired 2,763 shares of the firm’s stock in a transaction that occurred on Friday, November 19th. The stock was purchased at an average cost of $28.47 per share, for a total transaction of $78,662.61. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 28.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in Veritone by 11.7% in the third quarter. Bank of New York Mellon Corp now owns 99,379 shares of the company’s stock valued at $2,374,000 after purchasing an additional 10,441 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Veritone by 384.6% in the third quarter. BNP Paribas Arbitrage SA now owns 5,161 shares of the company’s stock valued at $123,000 after purchasing an additional 4,096 shares during the last quarter. UBS Group AG grew its stake in Veritone by 50.5% in the third 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 last quarter. Uniplan Investment Counsel Inc. grew its stake in Veritone by 20.6% in the third quarter. Uniplan Investment Counsel Inc. now owns 286,930 shares of the company’s stock valued at $6,854,000 after purchasing an additional 49,042 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Veritone by 136.0% in the third quarter. Wellington Management Group LLP now owns 1,080,918 shares of the company’s stock valued at $25,824,000 after purchasing an additional 622,919 shares during the last quarter. Institutional investors own 47.44% of the company’s stock.
Veritone stock traded down $0.05 during mid-day trading on Friday, hitting $23.40. 292,758 shares of the company traded hands, compared to its average volume of 828,039. The stock has a fifty day moving average price of $26.70 and a 200-day moving average price of $22.67. Veritone has a one year low of $16.45 and a one year high of $50.34. The stock has a market cap of $769.16 million, a price-to-earnings ratio of -11.09 and a beta of 3.08.
Veritone Company Profile
Veritone, Inc engages in the provision of artificial intelligence (AI) computing solutions to media and entertainment, government, and legal and compliance industries. It operates through the following segments: Advertising; aiWARE SaaS Solutions; and aiWARE Content Licensing and Media Services. The Advertising segment places advertisements for clients, primarily with radio broadcasters, podcasters and digital media producers.
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Read More: Analysts Expect Veritone, Inc. (NASDAQ:VERI) Will Announce Earnings of $0.12 Per Share