What's Going On With Veritone Stock?
Portfolio Pulse from Erica Kollmann
Veritone, Inc. (NASDAQ:VERI) shares rose after reporting Q4 revenue that exceeded expectations and providing optimistic guidance for Q1 and FY 2024. The company announced a Q4 loss of 16 cents per share with sales of $34.197 million, surpassing the consensus estimate of $33.795 million. For Q1, revenue is expected to be between $30.5 million and $31.5 million, against a $31.42 million estimate. FY 2024 revenue is forecasted to be between $134 million and $142 million, compared to a $135.83 million estimate. Roth MKM analyst Darren Aftahi maintained a Neutral rating on Veritone but raised the price target from $1.85 to $2.25.
March 14, 2024 | 6:24 pm
News sentiment analysis
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POSITIVE IMPACT
Veritone reported higher than expected Q4 revenue and optimistic guidance for Q1 and FY 2024, leading to a positive stock price movement.
The positive earnings report and future guidance provided by Veritone indicate a strong financial performance and outlook, which typically leads to increased investor confidence and a potential rise in stock price. The adjustment of the price target by analysts further supports the positive sentiment towards the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100