Wall Street brokerages predict that Veritone, Inc. (NASDAQ:VERI) will announce $18.94 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Veritone’s earnings, with the lowest sales estimate coming in at $18.82 million and the highest estimate coming in at $19.01 million. Veritone posted sales of $13.27 million during the same quarter last year, which suggests a positive year-over-year growth rate of 42.7%. The company is expected to announce its next quarterly earnings results on Monday, August 9th.
On average, analysts expect that Veritone will report full year sales of $80.88 million for the current fiscal year, with estimates ranging from $80.55 million to $81.10 million. For the next financial year, analysts forecast that the business will report sales of $100.59 million, with estimates ranging from $97.67 million to $102.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Veritone.
Several brokerages have issued reports on VERI. Northland Securities upped their target price on Veritone from $15.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, March 5th. JMP Securities upped their price objective on shares of Veritone from $21.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, March 5th. Zacks Investment Research raised shares of Veritone from a “sell” rating to a “hold” rating in a research note on Thursday, May 6th. Finally, Roth Capital boosted their target price on shares of Veritone from $42.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Veritone has a consensus rating of “Hold” and a consensus target price of $33.43.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC acquired a new position in shares of Veritone in the 1st quarter valued at $37,000. Meeder Asset Management Inc. acquired a new position in Veritone in the first quarter valued at $45,000. Silvant Capital Management LLC purchased a new position in shares of Veritone during the first quarter worth about $96,000. Quantbot Technologies LP acquired a new stake in shares of Veritone during the first quarter worth about $112,000. Finally, Advisory Services Network LLC increased its position in shares of Veritone by 28.9% during the fourth quarter. Advisory Services Network LLC now owns 4,461 shares of the company’s stock worth $127,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 47.13% of the company’s stock.
Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. The company develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models, such as cognitive queries, predictions, correlations, and analyses in real-time using AI models in various categories comprising transcription, face recognition, and object recognition to reveal valuable insights from vast amounts of structured and unstructured data.
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