Veritone, Inc. (NASDAQ: VERI) shares were up again 10.88% yesterday and have rocketed up 661.2% over the past three-month period. VERI expected earnings growth rate for the next quarter is 48.8%! Many investors are asking if Veritone stock is a buy. The short answer is Yes, Vertone stock is a buy if it makes sense for your portfolio/risk tolerance, and you buy at the right levels.
Before The Bell: Stock Market Note
S&P futures are higher, up 59 to 60 points. Markets overall rebounded from yesterday’s sharp selloff on growth fears and COVID-19. Steven Mnuchin, Treasury Secretary, said the US shouldn’t shut down the economy even in the event of a COVID-19 resurgence. Houston and surrounding counties were considering re-imposing coronavirus lockdown measures following an increase in the number of new coronavirus cases. The IMF’s Managing Director, Kristalina Georgieva, said despite the $10 trillion spent globally on coronavirus stimulus, more would be needed.
What is the Veritone Company?
Most successful investors like Buffet would tell you that you must understand business and make money before investing in it. Veritone, founded in 2014 and Costa Mesa, California, is an AI company that provides computing/software solutions in the US and UK. Veritone was founded in 2014 and is headquartered in Costa Mesa, California. Much of their business is focused on media buying, campaigns, agency services. They are used by several media giants like Bloomberg and CNN. They are also in other markets, such as legal and entertainment.
How Big Is The Artificial Intelligence Market?
It is huge and growing fast. The artificial intelligence (AI) market size was $20.67 Billion in 2018 is projected to reach $202.57 billion by 2026, exhibiting a CAGR of 33.1% during the forecast period.
What are the Key Levels or Pivot Points for Veritone Stock?
Veritone stock pivot points are critical to determining entry and exists. The table below has key levels:
| Pivot | Classic | Fibonacci | Camarilla | Woodie | DM |
|---|---|---|---|---|---|
| S3 | — | 3.30 | 7.38 | 2.44 | — |
| S2 | 3.30 | 4.84 | 7.75 | 3.59 | — |
| S1 | 5.89 | 5.79 | 8.12 | 6.48 | 6.61 |
| P | 7.33 | 7.33 | 7.33 | 7.62 | 7.69 |
| R1 | 9.92 | 8.87 | 8.86 | 10.51 | 10.64 |
| R2 | 11.36 | 9.82 | 9.23 | 11.65 | — |
| R3 | 15.39 | 11.36 | 9.60 | 14.54 | — |
What are the technical Indicators For Veritone Stock?
A majority of the technical indicators for VERI are BULLISH. This is often the case for stocks that have seen massive price increases. Investors should look at key levels to enter trades.
Moving Averages
Name Value Action
Exponential Moving Average (5) 17.33 Buy
Simple Moving Average (5) 17.60 Buy
Exponential Moving Average (10) 16.12 Buy
Simple Moving Average (10) 15.90 Buy
Exponential Moving Average (20) 14.06 Buy
Simple Moving Average (20) 13.69 Buy
Exponential Moving Average (30) 12.48 Buy
Simple Moving Average (30) 11.67 Buy
Exponential Moving Average (50) 10.26 Buy
Simple Moving Average (50) 9.05 Buy
Exponential Moving Average (100) 7.53 Buy
Simple Moving Average (100) 5.81 Buy
Exponential Moving Average (200) 6.07 Buy
Simple Moving Average (200) 4.37 Buy
Ichimoku Cloud Base Line (9, 26, 52, 26) 13.45 Neutral
Volume Weighted Moving Average (20) 14.40 Buy
Hull Moving Average (9) 18.41 Buy
