Veritone, Inc. (NASDAQ:VERI) Expected to Announce Quarterly Sales of $16.17 Million


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Equities analysts expect that Veritone, Inc. (NASDAQ:VERI) will announce $16.17 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Veritone’s earnings, with the highest sales estimate coming in at $16.30 million and the lowest estimate coming in at $16.04 million. Veritone reported sales of $12.45 million during the same quarter last year, which indicates a positive year over year growth rate of 29.9%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, March 4th.

According to Zacks, analysts expect that Veritone will report full-year sales of $57.06 million for the current fiscal year, with estimates ranging from $56.93 million to $57.20 million. For the next fiscal year, analysts expect that the firm will report sales of $68.30 million, with estimates ranging from $67.04 million to $70.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Veritone.

Several equities analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on Veritone in a research report on Monday, December 21st. They issued a “hold” rating and a $25.00 price target for the company. Zacks Investment Research lowered Veritone from a “buy” rating to a “hold” rating in a research report on Thursday, February 11th. Finally, Roth Capital lifted their price target on Veritone from $31.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.57.

Shares of Veritone stock traded up $0.35 on Tuesday, hitting $37.01. The stock had a trading volume of 1,089,390 shares, compared to its average volume of 859,023. The stock’s 50-day simple moving average is $40.32 and its two-hundred day simple moving average is $21.03. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -19.34 and a beta of 3.55. Veritone has a one year low of $1.22 and a one year high of $50.34.

In other Veritone news, Director G Louis Graziadio III sold 982 shares of the business’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $36.40, for a total value of $35,744.80. Following the completion of the transaction, the director now owns 134,283 shares of the company’s stock, valued at approximately $4,887,901.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. 25.60% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC grew its stake in shares of Veritone by 28.9% during the 4th 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 period. JPMorgan Chase & Co. grew its stake in shares of Veritone by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,723 shares of the company’s stock valued at $82,000 after purchasing an additional 1,001 shares during the period. Rhumbline Advisers grew its stake in shares of Veritone by 6.8% during the 4th quarter. Rhumbline Advisers now owns 29,128 shares of the company’s stock valued at $829,000 after purchasing an additional 1,863 shares during the period. California Public Employees Retirement System grew its stake in shares of Veritone by 4.5% during the 3rd quarter. California Public Employees Retirement System now owns 48,600 shares of the company’s stock valued at $445,000 after purchasing an additional 2,100 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Veritone by 5.5% during the 3rd quarter. Wells Fargo & Company MN now owns 47,099 shares of the company’s stock valued at $431,000 after purchasing an additional 2,448 shares during the period. Institutional investors and hedge funds own 28.10% of the company’s stock.

About Veritone

Veritone, Inc provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that integrates and orchestrates a range of cognitive engines to reveal multivariate insights from structured and unstructured data, as well as to conduct cognitive workflows based on these insights.

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