Veritone Inc (NASDAQ: VERI): How It Has Performed & Trended

In today’s recent session, 0.6 million shares of the Veritone Inc (NASDAQ:VERI) have been traded, and its beta is 2.96. Most recently the company’s share price was $5.02, and it changed around -$0.34 or -6.35% from the last close, which brings the market valuation of the company to $186.39M. VERI at last check was trading at a discount to its 52-week high of $6.99, offering almost -39.24% off that amount. The share price’s 52-week low was $1.48, which indicates that the recent value has risen by an impressive 70.52% since then. We note from Veritone Inc’s average daily trading volume that its 10-day average is 5.19 million shares, with the 3-month average coming to 2.19 million.

Veritone Inc stock received a consensus recommendation rating of Buy, based on a mean score of 3.00. If we narrow it down even further, the data shows that 1 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended VERI as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Veritone Inc is expected to report earnings per share of -$0.21 for the current quarter.

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Veritone Inc (NASDAQ:VERI) trade information

Instantly VERI has been showing red trend so far today with a performance of -6.35% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 177.34% year-to-date, but still up 0.20% over the last five days. On the other hand, Veritone Inc (NASDAQ:VERI) is 123.11% up in the 30-day period. We can see from the shorts that 6.2 million shares have been sold at a short interest cover period of 1.88 day(s).

Veritone Inc (VERI) estimates and forecasts

Veritone Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 94.57 percent over the past six months and at a 64.36% annual growth rate that is well above the industry average of 17.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 19.20% in revenue this quarter, and will report an increase of 71.40% in the next quarter. The year-over-year growth rate is expected to be 6.50%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $30.71 million in revenue for the current quarter. 2 analysts expect Veritone Inc to make $30.25 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $29.79 million and $29.07 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 3.10%. Forecasts for the next quarter put sales growth at 4.10%.

Veritone Inc (NASDAQ:VERI)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 14.68% of Veritone Inc shares, and 37.17% of them are in the hands of institutional investors. The stock currently has a share float of 43.56%. Veritone Inc stock is held by 95 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 6.91% of the shares, which is about 2.57 million shares worth $12.88 million.

Banta Asset Management, LP, with 6.58% or 2.44 million shares worth $12.26 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Information Technology Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 1.14 million shares worth $5.71 million, making up 3.06% of all outstanding shares. On the other hand, Vanguard Information Technology Index Fund held roughly 0.75 million shares worth around $3.78 million, which represents about 2.03% of the total shares outstanding.