Veritone, Inc. (VERI) Announces Earnings Results

Veritone, Inc. (NASDAQ:VERI) issued its quarterly earnings results on Monday, August 7th. The company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($1.20) by $0.13, Morningstar.com reports. The firm had revenue of $4.09 million for the quarter, compared to the consensus estimate of $2.99 million.

Shares of Veritone (NASDAQ:VERI) traded down 4.14% on Friday, hitting $7.87. The company had a trading volume of 70,031 shares. The firm’s market capitalization is $117.70 million. The company has a 50 day moving average price of $9.74 and a 200 day moving average price of $11.38. Veritone has a 1-year low of $7.76 and a 1-year high of $15.13.

A number of hedge funds have recently bought and sold shares of VERI. Uniplan Investment Counsel Inc. bought a new stake in Veritone during the second quarter worth $5,740,000. B. Riley Financial Inc. bought a new stake in Veritone during the second quarter worth $2,022,000. Manatuck Hill Partners LLC bought a new stake in Veritone during the second quarter worth $1,757,000. Unterberg Capital LLC bought a new stake in Veritone during the second quarter worth $937,000. Finally, UBS Oconnor LLC bought a new stake in Veritone during the second quarter worth $586,000. Institutional investors own 1.04% of the company’s stock.

VERI has been the subject of several research reports. Wunderlich initiated coverage on Veritone in a report on Tuesday, June 6th. They set a “buy” rating and a $18.00 price target for the company. Craig Hallum initiated coverage on Veritone in a report on Tuesday, June 6th. They set a “buy” rating for the company. Roth Capital initiated coverage on Veritone in a report on Friday, August 11th. They set a “buy” rating and a $13.20 price target for the company. Zacks Investment Research raised Veritone from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Wednesday, August 9th. Finally, B. Riley reiterated a “buy” rating and set a $18.00 price objective on shares of Veritone in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.64.

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About Veritone

Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.

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