Zacks: Analysts Expect Veritone Inc (NASDAQ:VERI) Will Post Earnings of -$0.89 Per Share

Wall Street brokerages forecast that Veritone Inc (NASDAQ:VERI) will report ($0.89) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Veritone’s earnings. The lowest EPS estimate is ($0.92) and the highest is ($0.86). Veritone reported earnings per share of ($0.88) in the same quarter last year, which suggests a negative year over year growth rate of 1.1%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, August 7th.

According to Zacks, analysts expect that Veritone will report full-year earnings of ($3.34) per share for the current fiscal year, with EPS estimates ranging from ($3.36) to ($3.32). For the next financial year, analysts expect that the firm will report earnings of ($3.38) per share, with EPS estimates ranging from ($3.65) to ($3.10). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Veritone.

Veritone (NASDAQ:VERI) last released its earnings results on Wednesday, May 8th. The company reported ($0.48) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $0.41. The company had revenue of $12.13 million for the quarter, compared to analysts’ expectations of $11.58 million. Veritone had a negative return on equity of 86.72% and a negative net margin of 185.03%. The business’s revenue for the quarter was up 176.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.81) EPS.

A number of equities research analysts have recently commented on the company. Zacks Investment Research cut ZEALAND PHARMA/S from a “buy” rating to a “hold” rating in a research note on Saturday. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Northland Securities reiterated a “buy” rating and set a $55.00 target price on shares of Heron Therapeutics in a research note on Thursday, May 9th. Finally, JMP Securities assumed coverage on Veritone in a research note on Wednesday, April 3rd. They set an “outperform” rating and a $10.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Veritone currently has a consensus rating of “Buy” and an average price target of $12.68.

In other news, CEO Chad Steelberg acquired 13,300 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $7.54 per share, with a total value of $100,282.00. Following the acquisition, the chief executive officer now owns 83,284 shares in the company, valued at approximately $627,961.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Taketa acquired 9,021 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $7.49 per share, with a total value of $67,567.29. Following the acquisition, 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 valued at $915,168. 33.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in VERI. First Trust Advisors LP increased its holdings in shares of Veritone by 74.0% in 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 last quarter. BlackRock Inc. grew its stake in shares of Veritone by 8.3% in the fourth quarter. BlackRock Inc. now owns 497,174 shares of the company’s stock valued at $1,890,000 after acquiring an additional 38,046 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Veritone in the fourth quarter valued at about $52,000. GSA Capital Partners LLP grew its stake in shares of Veritone by 69.4% in the fourth quarter. GSA Capital Partners LLP now owns 43,200 shares of the company’s stock valued at $164,000 after acquiring an additional 17,700 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Veritone by 4.7% in the fourth quarter. Northern Trust Corp now owns 95,584 shares of the company’s stock valued at $363,000 after acquiring an additional 4,326 shares in the last quarter. 17.90% of the stock is owned by institutional investors.

Shares of NASDAQ VERI traded up $0.05 during mid-day trading on Tuesday, reaching $7.07. 308,663 shares of the company’s stock were exchanged, compared to its average volume of 594,573. The firm has a market cap of $151.35 million, a price-to-earnings ratio of -2.03 and a beta of 1.32. Veritone has a 52 week low of $3.65 and a 52 week high of $16.64. The stock has a 50-day moving average price of $7.94.

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.

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Earnings History and Estimates for Veritone (NASDAQ:VERI)

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