-$0.44 Earnings Per Share Expected for Veritone Inc (NASDAQ:VERI) This Quarter
Analysts predict that Veritone Inc (NASDAQ:VERI) will report earnings of ($0.44) per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Veritone’s earnings, with the highest EPS estimate coming in at ($0.43) and the lowest estimate coming in at ($0.45). Veritone reported earnings of ($0.86) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 48.8%. The firm is expected to announce its next earnings report on Monday, November 11th.
According to Zacks, analysts expect that Veritone will report full-year earnings of ($1.77) per share for the current financial year, with EPS estimates ranging from ($1.80) to ($1.71). For the next financial year, analysts forecast that the company will report earnings of ($1.40) per share, with EPS estimates ranging from ($1.64) to ($1.27). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Veritone.
Veritone (NASDAQ:VERI) last posted its earnings results on Wednesday, August 7th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.06. The company had revenue of $12.27 million for the quarter, compared to analyst estimates of $12.22 million. Veritone had a negative net margin of 155.58% and a negative return on equity of 96.89%. Veritone’s revenue was up 194.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.88) EPS.
In other Veritone news, Director Richard H. Taketa bought 9,021 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $7.49 per share, with a total value of $67,567.29. Following the purchase, the director now directly owns 9,887 shares in the company, valued at $74,053.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan Steelberg bought 33,244 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $7.49 per share, for a total transaction of $248,997.56. Following the completion of the purchase, the insider now owns 30,671 shares in the company, valued at $229,725.79. The disclosure for this purchase can be found here. Insiders bought a total of 80,766 shares of company stock worth $666,085 over the last three months. Insiders own 37.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Veritone by 8.3% during the fourth quarter. BlackRock Inc. now owns 497,174 shares of the company’s stock worth $1,890,000 after purchasing an additional 38,046 shares during the last quarter. Northern Trust Corp increased its position in shares of Veritone by 4.7% in the 4th quarter. Northern Trust Corp now owns 95,584 shares of the company’s stock valued at $363,000 after purchasing an additional 4,326 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Veritone by 26.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 71,059 shares of the company’s stock valued at $270,000 after purchasing an additional 14,796 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Veritone by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 91,543 shares of the company’s stock valued at $347,000 after purchasing an additional 4,209 shares during the last quarter. Finally, Perkins Capital Management Inc. purchased a new stake in shares of Veritone in the 1st quarter valued at approximately $1,274,000. 16.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Veritone stock traded down $0.26 on Thursday, reaching $4.65. The company had a trading volume of 15,722 shares, compared to its average volume of 458,884. The firm’s 50 day moving average price is $6.82 and its two-hundred day moving average price is $6.83. The firm has a market cap of $109.10 million, a PE ratio of -1.34 and a beta of 1.29. Veritone has a 52-week low of $3.65 and a 52-week high of $11.44.
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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