Veritone (NASDAQ:VERI) Issues Quarterly Earnings Results

Veritone (NASDAQ:VERI) announced its earnings results on Wednesday. The company reported $999.00 earnings per share (EPS) for the quarter, Zacks reports. Veritone had a negative net margin of 42.60% and a negative return on equity of 361.72%.

Veritone Stock Down 7.7%

Shares of VERI stock traded down $0.18 during trading on Wednesday, reaching $2.11. The company’s stock had a trading volume of 4,078,453 shares, compared to its average volume of 2,423,076. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $193.26 million, a price-to-earnings ratio of -3.16 and a beta of 2.36. The stock’s 50-day moving average price is $2.69 and its 200 day moving average price is $4.23. Veritone has a 1-year low of $1.22 and a 1-year high of $9.42.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VERI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, January 21st. D. Boral Capital reaffirmed a “buy” rating and set a $8.00 target price on shares of Veritone in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Veritone in a research note on Monday, March 30th. Finally, Wall Street Zen downgraded shares of Veritone from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Veritone has an average rating of “Hold” and a consensus price target of $7.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VERI. Vanguard Group Inc. boosted its holdings in shares of Veritone by 63.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company’s stock valued at $13,275,000 after buying an additional 1,065,460 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new stake in Veritone in the 3rd quarter valued at $11,718,000. Marshall Wace LLP raised its position in Veritone by 16,314.3% in the 3rd quarter. Marshall Wace LLP now owns 1,676,397 shares of the company’s stock valued at $8,080,000 after purchasing an additional 1,666,184 shares during the last quarter. Geode Capital Management LLC raised its position in Veritone by 81.4% in the 4th quarter. Geode Capital Management LLC now owns 984,749 shares of the company’s stock valued at $4,581,000 after purchasing an additional 441,875 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Veritone by 106.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 669,515 shares of the company’s stock valued at $3,113,000 after purchasing an additional 345,178 shares during the last quarter. Institutional investors and hedge funds own 39.18% of the company’s stock.

Veritone Company Profile

Veritone, Inc (NASDAQ: VERI) is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.