Veritone Inc (NASDAQ:VERI) Expected to Announce Quarterly Sales of $14.39 Million

Equities analysts predict that Veritone Inc (NASDAQ:VERI) will announce $14.39 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Veritone’s earnings, with the lowest sales estimate coming in at $14.38 million and the highest estimate coming in at $14.40 million. Veritone reported sales of $12.81 million during the same quarter last year, which suggests a positive year over year growth rate of 12.3%. The business is scheduled to announce its next earnings report on Wednesday, November 4th.

On average, analysts expect that Veritone will report full year sales of $54.20 million for the current financial year, with estimates ranging from $54.10 million to $54.30 million. For the next fiscal year, analysts anticipate that the company will post sales of $63.28 million, with estimates ranging from $62.38 million to $64.18 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Veritone.

Veritone (NASDAQ:VERI) last posted its earnings results on Monday, August 10th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. Veritone had a negative net margin of 106.21% and a negative return on equity of 118.65%.

VERI has been the subject of a number of recent analyst reports. Craig Hallum lowered shares of Veritone from a “hold” rating to a “sell” rating and set a $6.00 target price for the company. in a research note on Monday, July 6th. ValuEngine downgraded shares of Veritone from a “buy” rating to a “hold” rating in a research note on Tuesday, September 1st. Roth Capital reissued a “buy” rating on shares of Veritone in a research note on Monday, August 24th. BidaskClub lowered Veritone from a “hold” rating to a “sell” rating in a research report on Wednesday, August 26th. Finally, Northland Securities started coverage on Veritone in a research report on Friday, July 17th. They set a “buy” rating and a $15.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Veritone has an average rating of “Hold” and a consensus price target of $12.17.

A number of institutional investors have recently bought and sold shares of VERI. Bank of Montreal Can purchased a new position in shares of Veritone in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new stake in Veritone during the second quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Veritone in the second quarter valued at about $45,000. Private Advisor Group LLC bought a new position in Veritone in the second quarter worth about $46,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Veritone during the second quarter valued at about $134,000. Institutional investors own 24.54% of the company’s stock.

VERI stock traded up $0.52 during midday trading on Tuesday, reaching $7.80. The company’s stock had a trading volume of 617,705 shares, compared to its average volume of 808,098. Veritone has a 1 year low of $1.22 and a 1 year high of $19.67. The firm has a market capitalization of $215.30 million, a price-to-earnings ratio of -3.58 and a beta of 2.21. The stock has a fifty day simple moving average of $10.09 and a two-hundred day simple moving average of $8.29.

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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