Veritone Inc [NASDAQ: VERI] gained 6.51% or 0.42 points to close at $6.87 with a heavy trading volume of 5324786 shares. The company report on April 4, 2024 at 7:00 AM that Veritone and Grabyo Partner to Create AI-Powered Live Clipping, Asset Management and Monetization Solution.
Capture, edit and share content in real-time through Grabyo and publish directly to Veritone’s AI-powered Digital Media Hub for onward management and monetization.
Veritone, Inc. (NASDAQ: VERI), a leader in designing human-centered AI solutions, and Grabyo, a leading cloud video platform for live broadcasting, live clipping and distribution, today announced an integration that creates a connected workflow to streamline live digital content production and leverage AI-driven content management and monetization tools to meet the evolving needs of sports organizations in today’s fast-paced digital landscape.
The daily chart for VERI points out that the company has recorded 193.59% gains over the past six months.
If we look at the average trading volume of 2.26M shares, VERI reached to a volume of 5324786 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 $3.12 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 0.85, with the Price to Sales ratio for VERI stock in the period of the last 12 months amounting to 2.00. The Price to Book ratio for the last quarter was 6.70, 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 19.27. With this latest performance, VERI shares gained by 248.73% in over the last four-week period, additionally plugging by 193.59% over the last 6 months – not to mention a rise of 16.44% 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 75.97, with the RSI for the last a single of trading hit 78.22, and the three-weeks RSI is set at 74.10 for Veritone Inc [VERI]. The present Moving Average for the last 50 days of trading for this stock 2.86, while it was recorded at 6.00 for the last single week of trading, and 2.78 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 0.97 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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in VERI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in VERI stock with ownership which is approximately 5.8386%.
