Veritone (NASDAQ:VERI) Announces Quarterly Earnings Results

Veritone (NASDAQ:VERI) released its earnings results on Tuesday. The company reported ($0.24) earnings per share for the quarter, reports. The business had revenue of $21.99 million during the quarter. Veritone had a negative return on equity of 227.97% and a negative net margin of 47.97%. Veritone updated its FY 2024 guidance to EPS and its FY 2025 guidance to EPS.

Veritone Trading Up 11.8 %

Veritone stock opened at $3.18 on Thursday. Veritone has a 52 week low of $1.48 and a 52 week high of $7.76. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 9.02. The company has a market capitalization of $121.09 million, a price-to-earnings ratio of -1.47 and a beta of 3.33. The stock has a 50-day moving average price of $3.64 and a 200 day moving average price of $3.16.

Analyst Ratings Changes

Separately, UBS Group upgraded shares of Veritone from a “sell” rating to a “neutral” rating and set a $3.50 target price on the stock in a report on Wednesday, October 30th.

Institutional Trading of Veritone

Several large investors have recently made changes to their positions in the business. Private Management Group Inc. boosted its holdings in Veritone by 18.6% in the third quarter. Private Management Group Inc. now owns 2,891,845 shares of the company’s stock valued at $10,382,000 after purchasing an additional 452,861 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Veritone by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 2,703,417 shares of the company’s stock valued at $14,220,000 after buying an additional 138,194 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Veritone in the second quarter worth about $811,000. GSA Capital Partners LLP grew its holdings in Veritone by 559.7% during the third quarter. GSA Capital Partners LLP now owns 108,614 shares of the company’s stock worth $390,000 after acquiring an additional 92,150 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Veritone during the second quarter valued at approximately $203,000. 39.18% of the stock is owned by hedge funds and other institutional investors.

Veritone Company Profile

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic 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.