Equities research analysts expect Veritone Inc (NASDAQ:VERI) to announce $12.22 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Veritone’s earnings. The lowest sales estimate is $12.13 million and the highest is $12.28 million. Veritone posted sales of $4.17 million during the same quarter last year, which suggests a positive year-over-year growth rate of 193%. The firm is scheduled to announce its next quarterly earnings results on Monday, August 12th.
On average, analysts expect that Veritone will report full year sales of $50.41 million for the current fiscal year, with estimates ranging from $49.44 million to $51.28 million. For the next financial year, analysts forecast that the business will post sales of $62.25 million, with estimates ranging from $57.60 million to $67.63 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Veritone.
Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.41. Veritone had a negative net margin of 185.03% and a negative return on equity of 86.72%. The company had revenue of $12.13 million for the quarter, compared to analyst estimates of $11.58 million. During the same quarter in the previous year, the firm posted ($0.81) earnings per share. The company’s quarterly revenue was up 176.3% compared to the same quarter last year.
Shares of Veritone stock traded up $0.10 during trading on Wednesday, reaching $7.72. The company’s stock had a trading volume of 282,724 shares, compared to its average volume of 618,229. Veritone has a 52-week low of $3.65 and a 52-week high of $17.73. The company has a market cap of $159.08 million, a P/E ratio of -2.22 and a beta of 1.32. The firm has a 50-day simple moving average of $8.42.
In other news, insider Ryan Steelberg bought 25,201 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were bought at an average price of $9.89 per share, for a total transaction of $249,237.89. Following the purchase, the insider now owns 30,671 shares in the company, valued at $303,336.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Taketa bought 9,021 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $7.49 per share, for a total transaction of $67,567.29. Following the purchase, the director now owns 9,887 shares in the company, valued at approximately $74,053.63. The disclosure for this purchase can be found here. In the last three months, insiders purchased 111,142 shares of company stock worth $915,168. 33.00% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in VERI. Barclays PLC grew its holdings in shares of Veritone by 2,915.0% in the fourth quarter. Barclays PLC now owns 7,447 shares of the company’s stock valued at $28,000 after purchasing an additional 7,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Veritone during the fourth quarter worth $52,000. GSA Capital Partners LLP boosted its stake in Veritone by 69.4% during the fourth quarter. GSA Capital Partners LLP now owns 43,200 shares of the company’s stock worth $164,000 after buying an additional 17,700 shares during the period. First Trust Advisors LP boosted its stake in shares of Veritone by 74.0% during the fourth quarter. First Trust Advisors LP now owns 44,634 shares of the company’s stock valued at $170,000 after purchasing an additional 18,983 shares during the period. Finally, Vanguard Capital Wealth Advisors purchased a new stake in shares of Veritone during the first quarter valued at $187,000. Hedge funds and other institutional investors own 17.93% of the company’s stock.
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.
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