Veritone (NASDAQ:VERI) Announces Earnings Results

Veritone (NASDAQ:VERI) issued its quarterly earnings results on Wednesday. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.35, reports. Veritone had a negative net margin of 155.58% and a negative return on equity of 96.89%. The firm had revenue of $12.81 million during the quarter, compared to the consensus estimate of $12.75 million. During the same period in the prior year, the firm earned ($0.46) EPS. The business’s revenue was up 69.7% on a year-over-year basis.

Shares of NASDAQ:VERI traded up $0.01 during midday trading on Friday, reaching $2.67. 239,000 shares of the company’s stock were exchanged, compared to its average volume of 556,325. The firm has a market capitalization of $59.11 million, a PE ratio of -0.77 and a beta of 1.37. Veritone has a 12 month low of $2.43 and a 12 month high of $9.98. The company’s 50 day simple moving average is $3.17 and its two-hundred day simple moving average is $5.90.

A number of brokerages have weighed in on VERI. JMP Securities reduced their price target on shares of Veritone to $7.00 and set an “outperform” rating for the company in a report on Friday. Craig Hallum downgraded shares of Veritone from a “buy” rating to a “hold” rating and reduced their price target for the company from $14.00 to $3.00 in a report on Thursday. Zacks Investment Research downgraded shares of Veritone from a “buy” rating to a “hold” rating in a report on Saturday, October 12th. Northland Securities reissued a “buy” rating and issued a $10.00 price target on shares of Veritone in a report on Thursday. Finally, ValuEngine raised shares of Veritone from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Veritone currently has a consensus rating of “Buy” and a consensus target price of $8.82.

About Veritone

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 for Veritone (NASDAQ:VERI)

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