Veritone (NASDAQ:VERI) Issues Quarterly Earnings Results

Veritone (NASDAQ:VERI) issued its earnings results on Tuesday. The company reported ($0.24) earnings per share (EPS) for the quarter, reports. The company had revenue of $21.99 million during the quarter. Veritone had a negative return on equity of 649.13% 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 3.6 %

VERI stock opened at $3.17 on Friday. Veritone has a 52-week low of $1.48 and a 52-week high of $7.76. The company has a debt-to-equity ratio of 9.02, a current ratio of 0.66 and a quick ratio of 0.78. The business has a fifty day moving average of $3.64 and a two-hundred day moving average of $3.16.

Hedge Funds Weigh In On Veritone

Several large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Veritone in the 1st quarter valued at about $65,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Veritone in the 1st quarter worth approximately $88,000. Vanguard Group Inc. boosted its position in shares of Veritone by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,703,417 shares of the company’s stock worth $14,220,000 after purchasing an additional 138,194 shares during the period. Summit Securities Group LLC acquired a new stake in Veritone in the 2nd quarter valued at approximately $58,000. Finally, Bfsg LLC raised its position in Veritone by 31.6% in the second quarter. Bfsg LLC now owns 20,675 shares of the company’s stock valued at $47,000 after purchasing an additional 4,960 shares during the period. Institutional investors and hedge funds own 39.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.