VERI Stock Summary and Trading Ideas (Veritone | NASDAQ:VERI)

Veritone Inc is a provider of artificial intelligence (AI) computing solutions and services. It generates revenue through the delivery of its Software Products and Services which consists of revenues generated from Commercial Enterprise and Government and Regulated Industries customers using the company's aiWARE platform and hiring solutions, any related support and maintenance services, and any related professional services associated with the deployment and/or implementation of such solutions, Managed Services which consist of revenues generated from Commercial Enterprise customers using company's content licensing services, advertising agency, influencer management and related services. It has a presence in the United States, the United Kingdom, France, Australia, Israel and India.

Veritone trades on the NASDAQ stock market under the symbol VERI.

As of May 10, 2024, VERI stock price declined to $3.15 with 1,210,353 million shares trading.

VERI has a beta of 1.74, meaning it tends to be more sensitive to market movements. VERI has a correlation of 0.03 to the broad based SPY ETF.

VERI has a market cap of $118.77 million. This is considered a Micro Cap stock.

Last quarter Veritone reported $32 million in Revenue and -$.20 earnings per share. This beat revenue expectation by $936,000 and met earnings estimates .

In the last 3 years, VERI stock traded as high as $37.14 and as low as $1.48.

The top ETF exchange traded funds that VERI belongs to (by Net Assets): VTI, VGT, VXF, IWM, IWO.

VERI has underperformed the market in the last year with a price return of -25.0% while the SPY ETF gained +27.8%. However, in the short term, VERI had mixed performance relative to the market. It has outperformed in the last 3 months, returning +67.6% vs +4.2% return in SPY. But in the last 2 weeks, VERI shares have been beat by the market, returning -10.3% compared to an SPY return of +2.5%.

VERI support price is $3.31 and resistance is $3.91 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that VERI stock will trade within this expected range on the day.