Veritone Inc (NASDAQ:VERI) shares fell 0% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $14.24 and last traded at $14.27. 861,416 shares changed hands during trading, an increase of 169% from the average session volume of 320,269 shares. The stock had previously closed at $14.27.
The company reported ($0.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.24). The firm had revenue of $3.49 million during the quarter, compared to analyst estimates of $4.41 million. Veritone had a negative net margin of 416.28% and a negative return on equity of 1,887.29%. The business’s revenue for the quarter was up 75.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($4.12) EPS.
A number of analysts recently issued reports on VERI shares. Craig Hallum set a $23.00 target price on Veritone and gave the company a “buy” rating in a research report on Tuesday. B. Riley reaffirmed a “sell” rating and issued a $15.00 target price on shares of Veritone in a research report on Thursday, December 21st. BidaskClub downgraded Veritone from a “sell” rating to a “strong sell” rating in a research report on Sunday, February 4th. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Veritone in a research report on Saturday, January 13th. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $19.33.
The stock has a market capitalization of $227.34 and a price-to-earnings ratio of -2.63.
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Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.
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