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Veritone Inc. (NASDAQ:VERI) Rises 63.50% In 2023; Is It Still Attractive At $2.51?

In last trading session, Veritone Inc. (NASDAQ:VERI) saw 1.43 million shares changing hands with its beta currently measuring 3.22. Company’s recent per share price level of $2.51 trading at -$0.1 or -3.83% at ring of the bell on the day assigns it a market valuation of $91.92M. That closing price of VERI’s stock is at a discount of -337.85% from its 52-week high price of $10.99 and is indicating a premium of 1.59% from its 52-week low price of $2.47. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.44 million shares which gives us an average trading volume of 448.88K if we extend that period to 3-months.

For Veritone Inc. (VERI), analysts’ consensus is at an average recommendation of an Underweight while assigning it a mean rating of 3.40. Splitting up the data highlights that, out of 5 analysts covering the stock, 1 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 0 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $Verb Technology Company, Inc. in the current quarter.

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Veritone Inc. (NASDAQ:VERI) trade information

Upright in the red during last session for losing -3.83%, in the last five days VERI remained trading in the red while hitting it’s week-highest on Monday, 09/11/23 when the stock touched $2.51 price level, adding 13.45% to its value on the day. Veritone Inc.’s shares saw a change of -52.64% in year-to-date performance and have moved -13.45% in past 5-day. Veritone Inc. (NASDAQ:VERI) showed a performance of -4.20% in past 30-days. Number of shares sold short was 3.98 million shares which calculate 7.97 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $3.20 to the stock, which implies a rise of 21.56% to its current value. Analysts have been projecting $2.00 as a low price target for the stock while placing it at a high target of $4.00. It follows that stock’s current price would drop -59.36% in reaching the projected high whereas dropping to the targeted low would mean a gain of 20.32% for stock’s current value.

Veritone Inc. (VERI) estimates and forecasts

Statistics highlight that Veritone Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -50.30% of value to its shares in past 6 months, showing an annual growth rate of -79.55% while that of industry is 17.90. Apart from that, the company came lowering its revenue forecast for fiscal year 2023.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 35.20% during past 5 years.

VERI Dividends

Veritone Inc. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 14.69% of company’s total shares while institution are holding 39.79 percent of that, with stock having share float percentage of 46.64%. Investors also watch the number of corporate investors in a company very closely, which is 39.79% institutions for Veritone Inc. that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at VERI for having 2.46 million shares of worth $9.64 million. And as of Jun 29, 2023, it was holding 6.65% of the company’s outstanding shares.

The second largest institutional holder is Banta Asset Management, LP, which was holding about 2.34 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 6.33% of outstanding shares, having a total worth of $9.18 million.

On the other hand, Vanguard Total Stock Market Index Fund and First Trust Nasdaq Artificial Intelligence & Robotics ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 1.14 million shares of worth $4.46 million or 3.07% of the total outstanding shares. The later fund manager was in possession of 0.73 million shares on Jul 30, 2023, making its stake of worth around $3.39 million in the company or a holder of 1.99% of company’s stock.

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