Equities analysts expect Veritone Inc (NASDAQ:VERI) to report sales of $9.51 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Veritone’s earnings. The highest sales estimate is $9.60 million and the lowest is $9.40 million. Veritone posted sales of $3.50 million in the same quarter last year, which indicates a positive year over year growth rate of 171.7%. The business is scheduled to announce its next quarterly earnings report on Monday, February 25th.

On average, analysts expect that Veritone will report full-year sales of $25.62 million for the current year, with estimates ranging from $25.50 million to $25.70 million. For the next fiscal year, analysts forecast that the firm will post sales of $44.12 million, with estimates ranging from $41.93 million to $45.80 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Veritone.

Veritone (NASDAQ:VERI) last announced its quarterly earnings data on Monday, November 12th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.08). The business had revenue of $7.55 million during the quarter, compared to analyst estimates of $6.03 million. Veritone had a negative return on equity of 86.60% and a negative net margin of 286.28%. The business’s revenue for the quarter was up 102.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.31) EPS.

Several research analysts have commented on the stock. Roth Capital decreased their target price on shares of Veritone from $27.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, August 14th. Zacks Investment Research cut shares of Veritone from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. B. Riley upgraded shares of Veritone from a “sell” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $9.00 in a report on Tuesday, November 13th. Craig Hallum decreased 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. Finally, DA Davidson decreased 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.88.

Shares of VERI opened at $5.63 on Friday. The company has a market capitalization of $102.83 million, a PE ratio of -1.23 and a beta of 1.11. Veritone has a 12-month low of $4.95 and a 12-month high of $27.95.

In other news, Director G Louis Graziadio III bought 5,000 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $50,500.00. Following the completion of the acquisition, the director now directly owns 98,308 shares in the company, valued at approximately $992,910.80. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Research Corp Acacia sold 1,500,000 shares of the firm’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $5.01, for a total transaction of $7,515,000.00. Following the completion of the transaction, the insider now owns 1,619,520 shares of the company’s stock, valued at $8,113,795.20. The disclosure for this sale can be found here. Company insiders own 37.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its holdings in shares of Veritone by 116.7% during the third 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. AQR Capital Management LLC acquired a new stake in shares of Veritone during the third quarter worth approximately $144,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Veritone during the third quarter worth approximately $4,285,000. GSA Capital Partners LLP acquired a new stake in shares of Veritone during the third quarter worth approximately $266,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Veritone during the third quarter worth approximately $587,000. Institutional investors own 17.48% of the company’s stock.

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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