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Veritone, Inc. (VERI) Surges 8.6%: Is This an Indication of Further Gains?
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Veritone, Inc. (VERI - Free Report) shares ended the last trading session 8.6% higher at $5.83. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.6% loss over the past four weeks.
Veritone recently granted equity awards to four new non-executive employees of the company under its Inducement Grant Plan. This award consists of the optional purchase of 189,942 VERI shares and restricted stock units which the holder is entitled to receive upon vesting an aggregate of 151,139 shares of Veritone. In both cases, the award is subject to employees’ continuous employment in the company.
The company also benefits from the continuing partnership with Augusta National, Inc. which boosts its brand exposure and archival revenue.
This company is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of -60%. Revenues are expected to be $29.97 million, down 12.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Veritone, Inc., the consensus EPS estimate for the quarter has been revised 30.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on VERI going forward to see if this recent jump can turn into more strength down the road.
Veritone, Inc. belongs to the Zacks Technology Services industry. Another stock from the same industry, SPX Technologies (SPXC - Free Report) , closed the last trading session 0.6% higher at $70.58. Over the past month, SPXC has returned -3.2%.
SPX Technologies' consensus EPS estimate for the upcoming report has changed +8.9% over the past month to $0.61. Compared to the company's year-ago EPS, this represents a change of +52.5%. SPX Technologies currently boasts a Zacks Rank of #3 (Hold).
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Veritone, Inc. (VERI) Surges 8.6%: Is This an Indication of Further Gains?
Veritone, Inc. (VERI - Free Report) shares ended the last trading session 8.6% higher at $5.83. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.6% loss over the past four weeks.
Veritone recently granted equity awards to four new non-executive employees of the company under its Inducement Grant Plan. This award consists of the optional purchase of 189,942 VERI shares and restricted stock units which the holder is entitled to receive upon vesting an aggregate of 151,139 shares of Veritone. In both cases, the award is subject to employees’ continuous employment in the company.
The company also benefits from the continuing partnership with Augusta National, Inc. which boosts its brand exposure and archival revenue.
This company is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of -60%. Revenues are expected to be $29.97 million, down 12.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Veritone, Inc., the consensus EPS estimate for the quarter has been revised 30.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on VERI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Veritone, Inc. belongs to the Zacks Technology Services industry. Another stock from the same industry, SPX Technologies (SPXC - Free Report) , closed the last trading session 0.6% higher at $70.58. Over the past month, SPXC has returned -3.2%.
SPX Technologies' consensus EPS estimate for the upcoming report has changed +8.9% over the past month to $0.61. Compared to the company's year-ago EPS, this represents a change of +52.5%. SPX Technologies currently boasts a Zacks Rank of #3 (Hold).