Veritone Inc (NASDAQ: VERI): A Stock Worth Watching

Veritone Inc (NASDAQ:VERI) shares, rose in value, with the stock price up by 6.79% to the previous day’s close as strong demand from buyers drove the stock to $6.45.

Actively observing the price movement in the last trading, the stock closed the session at $6.04. The value of beta (5-year monthly) was 2.82. Referring to stock’s 52-week performance, its high was $6.99, and the low was $1.48. On the whole, VERI has fluctuated by 180.43% over the past month.

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With the market capitalization of Veritone Inc currently standing at about $239.49 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 30, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.21, which is expected to increase to -$0.09 for fiscal year -$0.35 and then to about -$0.11 by fiscal year 2025. Data indicates that the EPS growth is expected to be 65.30% in 2025, while the next year’s EPS growth is forecast to be 68.60%.

Analysts have estimated the company’s revenue for the quarter at $30.71 million, with a low estimate of $30.7 million and a high estimate of $30.72 million. According to the average forecast, sales growth in current quarter could jump up 3.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $135.8 million, representing an increase of 6.50% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that VERI’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of VERI currently trading nearly 73.64% and 141.66% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 74.00, while the 7-day volatility ratio is showing 19.18% which for the 30-day chart, stands at 27.32%. Furthermore, Veritone Inc (VERI)’s beta value is 2.94, and its average true range (ATR) is 0.81.

A comparison of Veritone Inc (VERI) with its peers suggests the former has fared considerably weaker in the market. VERI showed an intraday change of 6.79% in last session, and over the past year, it grew by 10.63%%.

Data on historical trading for Veritone Inc (NASDAQ:VERI) indicates that the trading volumes over the past 10 days have averaged 4.6 million and over the past 3 months, they’ve averaged 2.23 million. According to company’s latest data on outstanding shares, there are 37.19 million shares outstanding.

Nearly 12.07% of Veritone Inc’s shares belong to company insiders and institutional investors own 37.27% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.2 million shares as on Mar 15, 2024, resulting in a short ratio of 1.88. According to the data, the short interest in Veritone Inc (VERI) stood at 16.68% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 5.08 million. The stock has risen by 256.35% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the VERI stock heading into the next quarter.