Veritone (VERI) Hits New 1-Year Low at $4.96

Veritone Inc (NASDAQ:VERI)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $4.96 and last traded at $5.76, with a volume of 17660 shares changing hands. The stock had previously closed at $5.32.

Several research firms have recently issued reports on VERI. Craig Hallum lowered their target price on shares of Veritone from $22.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. DA Davidson lowered their target price on shares of Veritone to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 13th. Roth Capital lowered their target price on shares of Veritone from $20.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, November 13th. B. Riley raised shares of Veritone from a “sell” rating to a “neutral” rating and raised their price target for the company from $8.00 to $9.00 in a research report on Tuesday, November 13th. Finally, Zacks Investment Research downgraded shares of Veritone from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Veritone has an average rating of “Hold” and an average price target of $14.88.

The stock has a market cap of $110.36 million, a price-to-earnings ratio of -1.23 and a beta of 1.11.

Veritone (NASDAQ:VERI) last announced its quarterly earnings results on Monday, November 12th. The company reported ($0.86) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.08). The firm had revenue of $7.55 million for the quarter, compared to the consensus estimate of $6.03 million. Veritone had a negative net margin of 286.28% and a negative return on equity of 86.60%. Veritone’s revenue was up 102.9% on a year-over-year basis. During the same period last year, the business earned ($1.31) EPS. As a group, equities research analysts predict that Veritone Inc will post -3.27 EPS for the current year.

In other Veritone news, major shareholder Research Corp Acacia sold 1,500,000 shares of Veritone stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $5.01, for a total value of $7,515,000.00. Following the completion of the sale, the insider now owns 1,619,520 shares of the company’s stock, valued at approximately $8,113,795.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director G Louis Graziadio III bought 9,000 shares of the business’s stock in a transaction on Friday, September 14th. The stock was bought at an average cost of $10.37 per share, with a total value of $93,330.00. Following the transaction, the director now owns 98,308 shares in the company, valued at approximately $1,019,453.96. The disclosure for this purchase can be found here. 37.00% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Morgan Stanley grew its position in Veritone by 116.7% in the 3rd quarter. Morgan Stanley now owns 641,308 shares of the company’s stock worth $6,689,000 after purchasing an additional 345,297 shares during the period. BlackRock Inc. grew its position in Veritone by 2.6% in the 3rd quarter. BlackRock Inc. now owns 459,128 shares of the company’s stock worth $4,790,000 after purchasing an additional 11,510 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Veritone in the 3rd quarter worth approximately $4,285,000. Gladstone Capital Management LLP bought a new stake in Veritone in the 2nd quarter worth approximately $2,253,000. Finally, Herald Investment Management Ltd grew its position in Veritone by 125.0% in the 2nd quarter. Herald Investment Management Ltd now owns 90,000 shares of the company’s stock worth $1,510,000 after purchasing an additional 50,000 shares during the period. 17.48% of the stock is owned by institutional investors and hedge funds.

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Veritone Company Profile (NASDAQ:VERI)

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.

See Also: Return on Investment (ROI)

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