DENVER - Veritone, Inc. (NASDAQ: NASDAQ:VERI), known for its AI-driven solutions, has announced updates to its Advertising and Content Intelligence Suite that bolster data privacy and aim to protect advertising revenues. The suite, part of Veritone's aiWARE enterprise AI platform, offers media monitoring, content discovery, and analytics services to media organizations, advertisers, and broadcasters.
The new features include Attribute Pixel, which compensates for the loss of data granularity with the transition to Google (NASDAQ:GOOGL) Analytics GA4 by providing alternative web traffic insights. This tool is designed to reduce dependency on third-party analytics, aligning with recent privacy trends in digital advertising.
Another enhancement, Industry Lift Benchmarking, offers comparative performance data segmented by industry and region. This benchmarking tool is intended to demonstrate the value of linear advertising investments and aid in campaign optimization.
The update also introduces Google Big Query (GBQ) Connection, an automated workflow that facilitates web data sharing and adapts linear broadcast attribution to new technology requirements, supporting platform-agnostic data analysis.
Furthermore, Veritone has added the Watchlist Kickstarter feature to Veritone Discovery (NASDAQ:WBD), which automates the creation of tailored watchlists and recap reports, delivering them directly to customers' inboxes.
Sean King, General Manager for Veritone Media and Entertainment, stated that the latest enhancements empower clients to employ new AI-powered media management methods and provide broadcasters with rapid insights to make data-driven decisions on ad placement and audience impact.
Veritone will demonstrate its suite at the 2024 NAB Show in Las Vegas from April 13 to 17, offering a closer look at the capabilities of these enhancements. The company's commitment to combining AI technology with human expertise aims to optimize operational efficiency and profitability for its clients across various industries.
This news is based on a press release statement from Veritone, Inc. and does not include any endorsements of claims or predictions of future performance.
InvestingPro Insights
As Veritone, Inc. (NASDAQ: VERI) continues to innovate with its Advertising and Content Intelligence Suite, it's important for investors to keep an eye on the company's financial health and market performance. According to InvestingPro data, Veritone has a market capitalization of $175.26 million, reflecting its current valuation within the tech sector.
Despite the company's impressive gross profit margin of 77.85% for the last twelve months as of Q1 2023, indicating strong operational efficiency in generating revenue, it's noteworthy that Veritone is not profitable over the same period, with a negative P/E ratio of -2.97. This could signal challenges in converting those revenues into net income.
Moreover, Veritone's stock price has experienced significant volatility, as evidenced by recent price total returns. The 1-month price total return as of early 2024 stands at a striking 277.78%, underscoring the stock's high volatility, which is also reflected in the 6-month price total return of 171.21%. Such movements may attract investors looking for short-term gains, but they also highlight the importance of being cautious with a stock that can fluctuate so widely.
For those considering an investment in Veritone, InvestingPro Tips suggest that the stock is currently in overbought territory, which might call for a more cautious approach. Moreover, while Veritone has shown a strong return over the last three months, analysts have revised their earnings downwards for the upcoming period, and they do not anticipate the company will be profitable this year.
Investors can find a wealth of additional insights and tips on Veritone, including 13 more InvestingPro Tips, at Investing.com/pro/VERI. To access these valuable resources, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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