Veritone Inc [NASDAQ: VERI] stock went on a downward path that fall over -18.00% on Wednesday, amounting to a one-week price decrease of less than -18.76%. 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.
Over the last 12 months, VERI stock rose by 2.75%. The one-year Veritone Inc stock forecast points to a potential downside of -67.95. The average equity rating for VERI stock is currently 3.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $194.56 million, with 37.19 million shares outstanding and 32.65 million shares in the current float. Compared to the average trading volume of 2.42M shares, VERI stock reached a trading volume of 3392022 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 0.89, with the Price to Sales ratio for VERI stock in the period of the last 12 months amounting to 1.53. The Price to Book ratio for the last quarter was 5.11, with the Price to Cash per share for the same quarter was set at 2.14.
VERI Stock Performance Analysis:
Veritone Inc [VERI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.76. With this latest performance, VERI shares gained by 184.01% in over the last four-week period, additionally plugging by 118.33% over the last 6 months – not to mention a rise of 2.75% 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 54.38, with the RSI for the last a single of trading hit 48.52, and the three-weeks RSI is set at 57.03 for Veritone Inc [VERI]. The present Moving Average for the last 50 days of trading for this stock 3.22, while it was recorded at 6.40 for the last single week of trading, and 2.82 for the last 200 days.
Insight into Veritone Inc Fundamentals:
Veritone Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.97 and a Current Ratio set at 0.97.
VERI Stock EPS
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.
Veritone Inc [VERI] Institutonal Ownership Details
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%.
