Veritone (VERI) to Release Earnings on Monday

Veritone (NASDAQ:VERI) will be releasing its Q3 earnings data after the market closes on Monday, November 12th. Analysts expect Veritone to post earnings of ($0.78) per share for the quarter.

Veritone (NASDAQ:VERI) last released its earnings results on Monday, August 13th. The company reported ($0.88) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.85) by ($0.03). Veritone had a negative return on equity of 102.30% and a negative net margin of 377.44%. The business had revenue of $4.20 million for the quarter, compared to analysts’ expectations of $4.92 million. The company’s revenue was up 2.4% compared to the same quarter last year. On average, analysts expect Veritone to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

NASDAQ VERI opened at $7.03 on Friday. Veritone has a twelve month low of $6.50 and a twelve month high of $29.62. The stock has a market cap of $132.29 million, a P/E ratio of -1.53 and a beta of 1.26.

Several research firms recently weighed in on VERI. Roth Capital reduced their target price on Veritone from $27.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, August 14th. Zacks Investment Research lowered Veritone from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. BidaskClub lowered Veritone from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Finally, B. Riley dropped their price target on Veritone and set a “sell” rating for the company in a research note on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.54.

In other Veritone news, major shareholder Research Corp Acacia sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $10.50, for a total transaction of $10,500,000.00. Following the completion of the sale, the insider now directly owns 3,119,520 shares in the company, valued at $32,754,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Louis Graziadio III purchased 5,000 shares of the company’s stock in a transaction on Friday, August 31st. The shares were purchased at an average price of $10.44 per share, with a total value of $52,200.00. Following the completion of the purchase, the director now directly owns 98,308 shares of the company’s stock, valued at $1,026,335.52. The disclosure for this purchase can be found here. Insiders have acquired 19,000 shares of company stock valued at $196,030 over the last 90 days. 37.00% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Veritone stock. Bank of New York Mellon Corp grew its position in shares of Veritone Inc (NASDAQ:VERI) by 32.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,679 shares of the company’s stock after acquiring an additional 5,754 shares during the quarter. Bank of New York Mellon Corp owned about 0.13% of Veritone worth $398,000 at the end of the most recent quarter. 16.85% of the stock is currently owned by hedge funds and other institutional investors.

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Veritone Company Profile

Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.

Further Reading: Correction

Earnings History for Veritone (NASDAQ:VERI)

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