Veritone Inc. (VERI) Analysis & Opinions from Experts

Veritone Inc. (NASDAQ: VERI) is 400.80% higher on its value in year-to-date trading and has touched a low of $1.22 and a high of $19.67 in the current 52-week trading range. The VERI stock was last observed hovering at around $11.32 in the last trading session, with the day’s gains setting it 1.15% off its average median price target of $15.00 for the next 12 months. It is also 30.72% off the consensus price target high of $18.00 offered by 5 analysts, but current levels are -107.83% lower than the price target low of $6.00 for the same period.

Currently trading at $12.47, the stock is 3.88% and -1.91% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.02 million and changing 10.16% at the moment leaves the stock 125.79% off its SMA200. VERI registered 77.89% gain for a year compared to 6-month gain of 474.65%. The firm has a 50-day simple moving average (SMA 50) of $13.75 and a 200-day simple moving average (SMA200) of $6.79.

The stock witnessed a -20.22% loss in the last 1 month and extending the period to 3 months gives it a 93.33%, and is 10.75% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.00% over the week and 10.09% over the month.

Veritone Inc. (VERI) has around 277 employees, a market worth around $342.18M and $49.40M in sales. Distance from 52-week low is 922.13% and -36.60% from its 52-week high. The company has generated returns on investments over the last 12 months (-132.10%).

Veritone Inc. (VERI) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Veritone Inc. (VERI) is a “Overweight”. 5 analysts offering their recommendations for the stock have an average rating of 2.40, where 0 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Veritone Inc. is expected to release its quarterly report on 08/10/2020 and quarterly earnings per share for the current quarter are estimated at -$0.23 with sales reaching $12.91M over the same period.The EPS is expected to grow by 18.10% this year, but quarterly earnings will post 5.30% year-over-year.

Veritone Inc. (VERI) Top Institutional Holders

53 institutions hold shares in Veritone Inc. (VERI), with 5.31M shares held by insiders accounting for 19.60% while institutional investors hold 24.76% of the company’s shares. The shares outstanding are 26.77M, and float is at 21.84M with Short Float at 14.75%. Institutions hold 19.91% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 0.8 million shares valued at $1.85 million. The investor’s holdings represent 2.94% of the VERI Shares outstanding. As of Mar 30, 2020, the second largest holder is Blackrock Inc. with 0.38 million shares valued at $0.88 million to account for 1.39% of the shares outstanding. The other top investors are Mirae Asset Global Investments Co., Ltd. which holds 0.35 million shares representing 1.29% and valued at over $0.81 million, while Uniplan Investment Counsel, Inc. holds 0.71% of the shares totaling 0.19 million with a market value of $0.45 million.

Veritone Inc. (VERI) Insider Activity

A total of 13 insider transactions have happened at Veritone Inc. (VERI) in the last six months, with sales accounting for 1 and purchases happening 12 times. The most recent transaction is an insider purchase by Steelberg Ryan, the company’s President. SEC filings show that Steelberg Ryan bought 14,695 shares of the company’s common stock on Jun 15 at a price of $13.53 per share for a total of $0.2 million. Following the purchase, the insider now owns 0.13 million shares.

Veritone Inc. disclosed in a document filed with the SEC on Jun 15 that Steelberg Chad (CEO, Chairman of the Board) bought a total of 14,695 shares of the company’s common stock. The trade occurred on Jun 15 and was made at $13.60 per share for $0.2 million. Following the transaction, the insider now directly holds 0.5 million shares of the VERI stock.

Still, SEC filings show that on Jun 05, Steelberg Ryan (President) acquired 16,701 shares at an average price of $11.95 for $0.2 million. The insider now directly holds 117,402 shares of Veritone Inc. (VERI).

Veritone Inc. (VERI): Who are the competitors?

The company’s main competitors (and peers) include Open Text Corporation (OTEX) that is 16.98% higher over the past 12 months. Palo Alto Networks Inc. (PANW) is 14.84% up on the 1-year trading charts. Short interest in the company’s stock has risen 47.83% from the last report on Jun 14, 2020 to stand at a total of 1.68 million short shares sold with a short interest ratio of 1.56.