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Is Veritone Inc. (NASDAQ: VERI) Worth It? How Should Investors Deal With It?

During the last session, Veritone Inc. (NASDAQ:VERI)’s traded shares were 0.45 million, with the beta value of the company hitting 3.06. At the end of the trading day, the stock’s price was $8.80, reflecting an intraday gain of 1.97% or $0.17. The 52-week high for the VERI share is $37.14, that puts it down -322.05 from that peak though still a striking 35.0% gain since the share price plummeted to a 52-week low of $5.72. The company’s market capitalization is $314.69M, and the average intraday trading volume over the past 10 days was 0.26 million shares, and the average trade volume was 418.70K shares over the past three months.

Veritone Inc. (VERI) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. VERI has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.09.

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Veritone Inc. (NASDAQ:VERI) trade information

Veritone Inc. (VERI) registered a 1.97% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.97% in intraday trading to $8.80 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 25.18%, and it has moved by 19.73% in 30 days. Based on these gigs, the overall price performance for the year is -61.03%. The short interest in Veritone Inc. (NASDAQ:VERI) is 4.67 million shares and it means that shorts have 11.45 day(s) to cover.

The consensus price target of analysts on Wall Street is $15.00, which implies an increase of 41.33% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $10.00 and $23.00 respectively. As a result, VERI is trading at a discount of -161.36% off the target high and -13.64% off the low.

Veritone Inc. (VERI) estimates and forecasts

Statistics show that Veritone Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Veritone Inc. (VERI) shares have gone down -38.20% during the last six months, with a year-to-date growth rate more than the industry average at 31.25% against 12.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 25.00% this quarter and then jump 200.00% in the quarter after that. In the rating firms’ projections, revenue will increase 55.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $38.18 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $43.42 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 0.50%. While earnings are projected to return -22.20% in 2022.

VERI Dividends

Veritone Inc. is due to release its next quarterly earnings between March 02 and March 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Veritone Inc. (NASDAQ:VERI)’s Major holders

Veritone Inc. insiders own 14.00% of total outstanding shares while institutional holders control 48.15%, with the float percentage being 55.99%. Banta Asset Management, LP is the largest shareholder of the company, while 173 institutions own stock in it. As of Mar 30, 2022, the company held over 2.38 million shares (or 6.59% of all shares), a total value of $43.48 million in shares.

The next largest institutional holding, with 1.9 million shares, is of Blackrock Inc.’s that is approximately 5.26% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $34.69 million.

Also, the Mutual Funds coming in first place with the largest holdings of Veritone Inc. (VERI) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 0.96 million shares. This amounts to just over 2.67 percent of the company’s overall shares, with a $17.58 million market value. The same data shows that the other fund manager holds slightly less at 0.77 million, or about 2.14% of the stock, which is worth about $5.04 million.

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