Update from Veritone Inc. (VERI): A steady trajectory

Veritone Inc. (NASDAQ: VERI) closed the day trading at $9.89 up 9.52% from the previous closing price of $9.03. In other words, the price has increased by $+0.86 from its previous closing price. On the day, 4590895 shares were traded. VERI stock price reached its highest trading level at $10.98 during the session, while it also had its lowest trading level at $8.67.

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For a better understanding of VERI, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.70 and its Current Ratio is at 1.70. In the meantime, Its Debt-to-Equity ratio is 2.77 whereas as Long-Term Debt/Eq ratio is at 2.77.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, BofA Securities on July 13, 2022, Downgraded its rating to Neutral and sets its target price to $10 from $14 previously.

On April 12, 2022, UBS started tracking the stock assigning a Neutral rating and target price of $18.

On February 09, 2022, BofA Securities started tracking the stock assigning a Buy rating and target price of $22.BofA Securities initiated its Buy rating on February 09, 2022, with a $22 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Sep 15 when Steelberg Ryan bought 15,420 shares for $6.98 per share. The transaction valued at 107,632 led to the insider holds 165,422 shares of the business.

Steelberg Ryan bought 21,288 shares of VERI for $146,461 on Sep 14. The President now owns 150,002 shares after completing the transaction at $6.88 per share. On Sep 13, another insider, Steelberg Ryan, who serves as the President of the company, bought 35,367 shares for $6.82 each. As a result, the insider paid 241,203 and bolstered with 128,714 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 2.37 while its Price-to-Book (P/B) ratio in mrq is 5.07.

Stock Price History:

Over the past 52 weeks, VERI has reached a high of $20.25, while it has fallen to a 52-week low of $4.57. The 50-Day Moving Average of the stock is 6.68, while the 200-Day Moving Average is calculated to be 7.21.

Shares Statistics:

Over the past 3-months, VERI traded about 562.22K shares per day on average, while over the past 10 days, VERI traded about 1.25M shares per day. A total of 36.20M shares are outstanding, with a floating share count of 31.24M. Insiders hold about 1.90% of the company’s shares, while institutions hold 47.00% stake in the company. Shares short for VERI as of Oct 13, 2022 were 5.08M with a Short Ratio of 3.95M, compared to 4.98M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 14.07% and a Short% of Float of 16.29%.

Earnings Estimates

Current recommendations for the stock of the company come from 7 analysts. On average, analysts expect EPS of -$0.18 for the current quarter, with a high estimate of -$0.16 and a low estimate of -$0.19, while EPS last year was -$0.07. The consensus estimate for the next quarter is $0.07, with high estimates of $0.12 and low estimates of $0.

Analysts are recommending an EPS of between -$0.36 and -$0.52 for the fiscal current year, implying an average EPS of -$0.41. EPS for the following year is $0.03, with 7 analysts recommending between $0.26 and -$0.22.

Revenue Estimates

A total of 8 analysts have provided revenue estimates for VERI’s current fiscal year. The highest revenue estimate was $160.5M, while the lowest revenue estimate was $145.97M, resulting in an average revenue estimate of $153.54M. In the same quarter a year ago, actual revenue was $115.31M, up 33.20% from the average estimate. Based on 8 analysts’ estimates, the company’s revenue will be $177.77M in the next fiscal year. The high estimate is $188.03M and the low estimate is $166.76M. The average revenue growth estimate for next year is up 15.80% from the average revenue estimate for this year.