Brokerages Anticipate Veritone Inc (NASDAQ:VERI) to Announce -$0.81 Earnings Per Share

Wall Street brokerages expect Veritone Inc (NASDAQ:VERI) to announce earnings per share (EPS) of ($0.81) for the current quarter, Zacks reports. Three analysts have made estimates for Veritone’s earnings, with estimates ranging from ($0.91) to ($0.70). Veritone posted earnings per share of ($3.09) during the same quarter last year, which suggests a positive year over year growth rate of 73.8%. The company is scheduled to issue its next earnings results on Tuesday, June 19th.

According to Zacks, analysts expect that Veritone will report full year earnings of ($2.92) per share for the current year, with EPS estimates ranging from ($3.40) to ($2.64). For the next year, analysts forecast that the firm will post earnings of ($2.51) per share, with EPS estimates ranging from ($2.84) to ($2.20). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Veritone.

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Veritone (NASDAQ:VERI) last announced its earnings results on Monday, February 26th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.24). Veritone had a negative net margin of 413.52% and a negative return on equity of 252.85%. The business had revenue of $3.49 million during the quarter, compared to analysts’ expectations of $4.41 million. During the same period in the previous year, the company posted ($4.12) earnings per share. Veritone’s quarterly revenue was up 75.4% on a year-over-year basis.

A number of equities research analysts have recently commented on VERI shares. Zacks Investment Research cut shares of Veritone from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. B. Riley reaffirmed a “sell” rating and issued a $15.00 target price on shares of Veritone in a report on Thursday, December 21st. Craig Hallum set a $31.00 target price on shares of Veritone and gave the company a “buy” rating in a report on Wednesday, November 22nd. BidaskClub raised shares of Veritone from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 24th. Finally, Roth Capital reduced their target price on shares of Veritone from $62.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Three equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.33.

Shares of Veritone (VERI) opened at $14.06 on Friday. Veritone has a 1-year low of $7.76 and a 1-year high of $74.92. The company has a market cap of $223.68 and a PE ratio of -2.54.

In other news, CFO Peter F. Collins purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was purchased at an average cost of $14.16 per share, with a total value of $141,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of hedge funds and other institutional investors have recently bought and sold shares of VERI. SG Americas Securities LLC purchased a new position in Veritone during the third quarter worth about $132,000. Vanguard Group Inc. purchased a new position in Veritone during the second quarter worth about $132,000. Schwab Charles Investment Management Inc. purchased a new position in Veritone during the third quarter worth about $205,000. Mycio Wealth Partners LLC purchased a new position in Veritone during the fourth quarter worth about $255,000. Finally, Quantbot Technologies LP purchased a new position in Veritone during the third quarter worth about $263,000. 9.94% of the stock is owned by hedge funds and other institutional investors.

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About Veritone

Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.

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