One year ago, some were wondering why Veritone Inc. shares had fallen to below $37, after a quick rise to $58.65 in late September 2017.
Today, some may be asking what the financial health of this AI-powered attribution company may be. It has a new member of its Board of Directors, but that announcement didn’t stop the bleeding on Wall Street.
With Monday’s Closing Bell, VERI is now at $7.61 a share, off 2.6% from Friday’s close.
This puts Veritone below the August 18, 2017 previous low of $7.87 seen since a partial Initial Public Offering was conducted by the Newport Beach, Calif.-based company in summer of last year.
A 1-year target estimate of $20.50 exists, but that could be in jeopardy of a rewrite — and investor downgrade — given Veritone’s current state of affairs with its share price.
On Oct. 18, Veritone appointed Nayaki Nayyar to its Board of Directors. Veritone says she was selected “based on her technical expertise in enterprise cloud software and IoT technologies, and her extensive experience in leading large teams in complex global organizations through acquisitions, technology transitions and growth phases.”
Nayyar is currently President of Digital Services Management at BMC Software, where she is leading the transformation of many market leading product lines into the cognitive era. Prior to joining BMC, Nayyar served as GM global head of SAP‘s Internet of Things (IoT) division. She also held strategy and senior management positions with SAP’s Cloud business unit, where she drove significant growth in the company’s Cloud, CRM and mobile business units while managing large teams globally.
