In yesterday’s Wall Street session, Veritone Inc (NASDAQ:VERI) shares traded at $4.72, down -9.92% from the previous session.
VERI stock price is now 46.51% away from the 50-day moving average and 67.44% away from the 200-day moving average. The market capitalization of the company currently stands at $175.25M.
With the price target reduced from $2 to $1.85, ROTH MKM Upgraded its rating from Sell to Neutral for Veritone Inc (NASDAQ: VERI). On August 09, 2023, ROTH MKM Downgraded its previous ‘Neutral’ rating to ‘Sell’ on the stock reducing its target price from $3.50 to quote $2, while ‘BofA Securities’ rates the stock as ‘Underperform’
In other news, Steelberg Ryan, President and CEO bought 49,752 shares of the company’s stock on Nov 17 ’23. The stock was bought for $101,992 at an average price of $2.05. Upon completion of the transaction, the President and CEO now directly owns 215,174 shares in the company, valued at $1.02 million. A total of 12.07% of the company’s stock is owned by insiders.
During the past 12 months, Veritone Inc has had a low of $1.48 and a high of $7.76. As of last week, the company has a debt-to-equity ratio of 3.75, a current ratio of 0.97, and a quick ratio of 0.97. The fifty day moving average price for VERI is $3.2806 and a two-hundred day moving average price translates $2.8215 for the stock.
The latest earnings results from Veritone Inc (NASDAQ: VERI) was released for Dec, 2023. According to the Software – Infrastructure Company, earnings per share came in at -$0.16, missing analysts’ expectations of -$0.15 by -0.01. This compares to $0.14 EPS in the same period last year. The net profit margin was -45.96% and return on equity was -99.37% for VERI. The company reported revenue of $34.2 million for the quarter, compared to $43.89 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -22.08 percent. For the current quarter, analysts expect VERI to generate $30.71M in revenue.
Veritone Inc(VERI) Company Profile
Veritone, Inc., together with its subsidiaries, provides artificial intelligence (AI) computing solutions and services in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models and human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights. The company also provides media advertising agency services, including media planning and strategy, media buying and placement, campaign messaging, clearance verification and attribution, and custom analytics directly to advertisers through outbound sales networking, and client and partner referrals, as well as indirectly through advertising agencies or marketing consultants. It serves media and entertainment, government, legal and compliance, energy, and other vertical markets. The company was formerly known as Veritone Delaware, Inc. and changed its name to Veritone, Inc. in July 2014. Veritone, Inc. was incorporated in 2014 and is headquartered in Denver, Colorado.
