Veritone (NASDAQ:VERI) Issues Quarterly Earnings Results

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

NASDAQ:VERI opened at $2.66 on Friday. The company has a 50-day moving average price of $3.19 and a 200-day moving average price of $5.92. Veritone has a 12 month low of $2.43 and a 12 month high of $9.98. The stock has a market cap of $59.11 million, a price-to-earnings ratio of -0.76 and a beta of 1.37.

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

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 for Veritone (NASDAQ:VERI)

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