Veritone (NASDAQ:VERI) Releases Earnings Results

Veritone (NASDAQ:VERI) released its quarterly earnings results on Wednesday. The company reported $999.00 EPS for the quarter, Zacks reports. Veritone had a negative net margin of 42.60% and a negative return on equity of 361.72%.

Veritone Stock Performance

VERI traded down $0.16 during trading on Wednesday, reaching $2.13. 4,000,422 shares of the company’s stock were exchanged, compared to its average volume of 2,420,767. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $9.42. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 6.77. The business has a 50 day moving average price of $2.69 and a 200 day moving average price of $4.23. The company has a market capitalization of $195.10 million, a P/E ratio of -3.17 and a beta of 2.36.

Institutional Investors Weigh In On Veritone

A number of institutional investors have recently bought and sold shares of VERI. State of Wyoming acquired a new stake in shares of Veritone in the 4th quarter valued at $25,000. Franklin Resources Inc. raised its holdings in Veritone by 78.3% during the 4th quarter. Franklin Resources Inc. now owns 18,325 shares of the company’s stock worth $85,000 after purchasing an additional 8,045 shares during the last quarter. LPL Financial LLC raised its holdings in Veritone by 55.9% during the 4th quarter. LPL Financial LLC now owns 45,938 shares of the company’s stock worth $214,000 after purchasing an additional 16,481 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Veritone in the 3rd quarter valued at about $80,000. Finally, Wells Fargo & Company MN increased its stake in shares of Veritone by 450.0% in the 4th quarter. Wells Fargo & Company MN now owns 20,460 shares of the company’s stock valued at $95,000 after acquiring an additional 16,740 shares during the last quarter. Institutional investors and hedge funds own 39.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. D. Boral Capital reaffirmed a “buy” rating and set a $8.00 target price on shares of Veritone in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Veritone in a research report on Monday, March 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veritone in a research report on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Veritone from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.25.

About Veritone

Veritone, Inc (NASDAQ: VERI) is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.