Veritone (NASDAQ:VERI) Posts Quarterly Earnings Results

Key Points

• Veritone reported an unusual EPS figure of $999.00 for the quarter while showing a negative net margin of 42.60% and a negative return on equity of 361.72%, indicating continued losses.
• The stock traded down 6.8% to $2.13 on heavy volume, with a market cap of about $195.1 million, a 52-week range of $1.22–$9.42, and a negative P/E of -3.17.
• Analysts are mixed—MarketBeat shows a consensus rating of "Hold" with an average target of $7.25 despite several buy ratings, and institutional investors own roughly 39% of the shares amid a high debt-to-equity ratio of 6.77.

Veritone (NASDAQ:VERI - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $999.00 earnings per share for the quarter, Zacks reports. Veritone had a negative net margin of 42.60% and a negative return on equity of 361.72%.

Veritone Stock Down 6.8%

Veritone stock traded down $0.16 during trading hours on Wednesday, hitting $2.13. The company had a trading volume of 4,000,422 shares, compared to its average volume of 2,420,767. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $9.42. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market capitalization of $195.10 million, a P/E ratio of -3.17 and a beta of 2.36. The firm's fifty day moving average is $2.69 and its 200-day moving average is $4.23.

Wall Street Analyst Weigh In

Several brokerages have commented on VERI. HC Wainwright reiterated a "buy" rating and issued a $9.00 target price on shares of Veritone in a report on Monday, March 30th. Wall Street Zen cut shares of Veritone from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Weiss Ratings reiterated a "sell (e+)" rating on shares of Veritone in a report on Wednesday, January 21st. Finally, D. Boral Capital reiterated a "buy" rating and issued a $8.00 target price on shares of Veritone in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Veritone currently has a consensus rating of "Hold" and an average target price of $7.25.

Institutional Investors Weigh In On Veritone

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming bought a new position in shares of Veritone in the fourth quarter valued at approximately $25,000. Franklin Resources Inc. bought a new position in shares of Veritone in the third quarter valued at approximately $50,000. Sherbrooke Park Advisers LLC bought a new position in shares of Veritone in the third quarter valued at approximately $80,000. Jefferies Financial Group Inc. bought a new position in shares of Veritone in the third quarter valued at approximately $82,000. Finally, EntryPoint Capital LLC bought a new position in shares of Veritone in the fourth quarter valued at approximately $84,000. Hedge funds and other institutional investors own 39.18% of the company's stock.

Veritone Company Profile

Veritone, Inc NASDAQ: VERI is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.

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