Veritone Inc [NASDAQ: VERI] gained 26.90% or 0.46 points to close at $2.17 with a heavy trading volume of 23116334 shares. The company report on March 12, 2024 at 4:10 PM that Veritone Reports Fourth Quarter and Fiscal Year 2023 Results.
– Fiscal Year 2023 Revenue of $127.6 Million, in line with previously stated guidance –.
– Q4 Total Revenue and Software Revenue of $34.2 and $19.8 million –.
The daily chart for VERI points out that the company has recorded -20.51% loss over the past six months.
If we look at the average trading volume of 421.62K shares, VERI reached to a volume of 23116334 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Veritone Inc [VERI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VERI shares is $2.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VERI stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
ROTH MKM have made an estimate for Veritone Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 01, 2024. While these analysts kept the previous recommendation, ROTH MKM dropped their target price from $3.50 to $2. The new note on the price target was released on August 09, 2023, representing the official price target for Veritone Inc stock. Previously, the target price had yet another drop from $8 to $3, while ROTH MKM kept a Neutral rating on VERI stock. On April 20, 2023, analysts decreased their price target for VERI shares from 8 to 5.
The Average True Range (ATR) for Veritone Inc is set at 0.32, with the Price to Sales ratio for VERI stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 4.30, with the Price to Cash per share for the same quarter was set at 2.14.
Trading performance analysis for VERI stock
Veritone Inc [VERI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.33. With this latest performance, VERI shares gained by 9.05% in over the last four-week period, additionally sinking by -20.51% over the last 6 months – not to mention a drop of -58.67% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VERI stock in for the last two-week period is set at 53.09, with the RSI for the last a single of trading hit 53.76, and the three-weeks RSI is set at 52.65 for Veritone Inc [VERI]. The present Moving Average for the last 50 days of trading for this stock 1.9100, while it was recorded at 2.0300 for the last single week of trading, and 2.7100 for the last 200 days.
Veritone Inc [VERI]: A deeper dive into fundamental analysis
Veritone Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.87 and a Current Ratio set at 0.97.
Veritone Inc [VERI]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Veritone Inc posted -0.26/share EPS, while the average EPS was predicted by analysts to be reported at -0.24/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -8.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VERI.
An analysis of Institutional ownership at Veritone Inc [VERI]
The top three institutional holders of VERI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in VERI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in VERI stock with ownership which is approximately 5.8325%.
