VERI - Veritone Inc Stock Price, Fair Value and News

3.56USD-0.27 (-7.05%)Market Closed

Market Summary

USD3.56-0.27

Market Closed

-7.05%

VERI Stock Price

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VERI RSI Chart

VERI Valuation

Market Cap

132.2M

Price/Earnings (Trailing)

-2.25

Price/Sales (Trailing)

1.04

EV/EBITDA

-3.22

Price/Free Cashflow

-1.62

VERI Price/Sales (Trailing)

VERI Profitability

Operating Margin

77.85%

EBT Margin

-48.35%

Return on Equity

-153.68%

Return on Assets

-15.6%

Free Cashflow Yield

-61.68%

VERI Fundamentals

VERI Revenue

Revenue (TTM)

127.6M

Rev. Growth (Yr)

-22.08%

Rev. Growth (Qtr)

-2.66%

VERI Earnings

Earnings (TTM)

-58.6M

Earnings Growth (Yr)

-78.19%

Earnings Growth (Qtr)

149.61%

Breaking Down VERI Revenue

Last 7 days

-5.8%

Last 30 days

-28.9%

Last 90 days

98.9%

Trailing 12 Months

-25.2%

How does VERI drawdown profile look like?

VERI Financial Health

Current Ratio

0.97

Debt/Equity

2.35

Debt/Cashflow

-0.85

VERI Investor Care

Shares Dilution (1Y)

0.92%

Diluted EPS (TTM)

-1.59

Historical Charts for Stock Metrics

Get all data in R, Python etc through our Historical Stock Data APIs

Net sales

Year	Q1	Q2	Q3	Q4
2023	145.6M	139.3M	137.3M	127.6M
2022	114.6M	129.6M	144.2M	149.7M
2021	64.1M	70.0M	77.0M	98.5M
2020	49.4M	50.4M	53.3M	57.7M
2019	34.8M	42.9M	48.1M	49.6M
2018	15.7M	15.8M	19.6M	27.0M
2017	9.9M	12.0M	13.4M	14.4M
2016	12.7M	11.4M	10.2M	8.9M
2015	0	0	0	13.9M

Get all data in R, Python etc through our Historical Stock Data APIs

GRUFITY'S FAIR VALUE MODEL

Stocks Marked 'Very Cheap' by Grufity's Fair Value Model Have Outperformed Russell 2000 Index

Small Caps and Mid Caps are mostly overlooked by investors as all the focus goes to Magnificent 7. These stocks that are not part of the beauty contest require a deeper look. However, all large cap stocks were once small caps. Grufity's Fair Value model opens up this unverse as it separates high-performing, rewarding stocks from low-performing risky stocks. <b>Russell 2000 stocks that were marked 'Very Cheap' by the model doubled in three years while the index was flat.</b>

Returns of $10,000 invested in:

Very Cheap Stocks: $21,859
Russell 2000 Index: $10,334
Very Expensive Stocks: $8,224

Russell 2000 stocks considered 'Very Cheap' by the model greatly outperformed Russell 2000 index and the 'Very Expensive' bucket over past three years.

Russell 2000 Index

Very Expensive Stocks

Very Cheap Stocks

Try For Just $1.99

Tracking the Latest Insider Buys and Sells of Veritone Inc

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
Apr 17, 2024	steelberg ryan	sold (taxes)	-79,705	3.78	-21,086	president and ceo
Apr 08, 2024	steelberg ryan	acquired	-	-	369,475	president and ceo
Apr 08, 2024	zemetra michael leonard	acquired	-	-	72,000	evp, cfo & treasurer
Jan 19, 2024	zemetra michael leonard	sold (taxes)	-16,416	1.69	-9,714	evp, cfo & treasurer
Jan 01, 2024	zemetra michael leonard	sold (taxes)	-7,022	1.81	-3,880	evp, cfo & treasurer
Nov 17, 2023	steelberg ryan	bought	101,992	2.05	49,752	president and ceo
Nov 15, 2023	steelberg chad	acquired	-	-	39,486	-
Nov 08, 2023	zilis michael	acquired	-	-	42,475	-
Jun 21, 2023	zemetra michael leonard	acquired	-	-	28,396	evp, cfo & treasurer
Jun 08, 2023	gehl jeff patrick	acquired	-	-	37,220	-

Which funds bought or sold VERI recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
Apr 23, 2024	BFSG, LLC	reduced	-3.44	53,203	82,661	0.01%
Apr 23, 2024	Global Retirement Partners, LLC	new	-	616,519	616,519	0.02%
Apr 23, 2024	AMALGAMATED BANK	reduced	-74.29	-2,000	5,000	-%
Apr 16, 2024	Vanguard Capital Wealth Advisors	reduced	-20.05	98,572	173,054	0.12%
Apr 11, 2024	Signature Resources Capital Management, LLC	unchanged	-	-	2,387	-%
Apr 11, 2024	DHJJ Financial Advisors, Ltd.	unchanged	-	345	526	-%
Apr 05, 2024	CWM, LLC	new	-	-	-	-%
Mar 11, 2024	VANGUARD GROUP INC	added	2.99	-1,783,160	4,643,050	-%
Mar 01, 2024	GOLDMAN SACHS GROUP INC	added	89.06	41,984	170,646	-%
Feb 28, 2024	AMERICAN INTERNATIONAL GROUP, INC.	added	0.69	-9,905	23,829	-%

Are Funds Buying or Selling VERI?

Are funds buying VERI calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own VERI

No. of Funds

Unveiling Veritone Inc's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2024	vanguard group inc	6.92%	2,565,223	SC 13G/A
Feb 02, 2024	private management group inc	5.74%	2,126,600	SC 13G
Jan 31, 2024	blackrock inc.	5.4%	1,999,367	SC 13G/A
Jan 11, 2024	banta asset management lp	8.63%	3,198,610	SC 13G/A
Feb 09, 2023	vanguard group inc	6.40%	2,324,350	SC 13G
Feb 06, 2023	wellington management group llp	0.00%	0	SC 13G/A
Feb 01, 2023	blackrock inc.	5.5%	1,996,231	SC 13G/A
Jan 13, 2023	banta asset management lp	8.16%	2,964,267	SC 13G/A
Feb 04, 2022	wellington management group llp	5.50%	1,919,180	SC 13G
Feb 03, 2022	blackrock inc.	5.4%	1,892,229	SC 13G/A

Recent SEC filings of Veritone Inc

View All Filings

Date Filed	Form Type	Document
Apr 19, 2024	4	Insider Trading
Apr 19, 2024	4	Insider Trading
Apr 18, 2024	DEFA14A	DEFA14A
Apr 18, 2024	8-K	Current Report
Apr 10, 2024	4	Insider Trading
Apr 10, 2024	4	Insider Trading
Apr 01, 2024	10-K	Annual Report
Mar 18, 2024	NT 10-K	NT 10-K
Mar 12, 2024	8-K	Current Report
Feb 23, 2024	4	Insider Trading

Peers (Alternatives to Veritone Inc)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
MSFT	3.0T	227.6B	-3.26%	48.52%	36.82	13.36	11.51%	22.38%
ADBE	213.7B	19.9B	-5.94%	29.09%	44.52	10.72	10.76%	1.35%
CRWD	71.0B	3.1B	-8.36%	143.65%	795.09	23.24	36.33%	148.75%
SQ	45.1B	21.9B	-10.40%	21.36%	6.6K	2.06	25.01%	101.26%
AKAM	15.5B	3.8B	-5.87%	28.59%	28.28	4.06	5.40%	4.57%
FFIV	10.7B	2.8B	-3.28%	39.96%	23.26	3.82	3.55%	53.13%
MID-CAP
ALTR	6.7B	612.7M	-1.09%	20.64%	-753.5	10.98	7.07%	79.45%
HCP	6.1B	583.1M	16.67%	18.16%	-31.93	10.44	22.54%	30.49%
ACIW	3.5B	1.5B	3.93%	37.78%	29.19	2.44	2.16%	-14.54%
APPN	2.7B	545.4M	-3.32%	2.15%	-24.05	4.91	16.53%	26.16%
SMALL-CAP
CSGS	1.5B	1.2B	-1.77%	-3.02%	21.41	1.25	7.30%	93.18%
ATEN	1.0B	251.7M	0.22%	-3.65%	25.55	4.06	-10.22%	-14.79%
BAND	472.6M	601.1M	0.11%	49.27%	-28.91	0.79	4.88%	-183.51%
DTSS	19.3M	7.0M	12.74%	-51.84%	-2.25	2.91	-55.73%	-45.27%
BLIN	13.4M	15.6M	22.86%	44.94%	-1.35	0.86	-6.37%	-5256.07%

Veritone Inc News

Latest updates

Veritone Inc Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

(*) denotes actual numbers (not divided by Thousands)
Income Statement (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Revenue	-2.7%	34,197,000	35,133,000	27,967,000	30,263,000	43,890,000	37,196,000	34,235,000	34,407,000	38,315,000	22,655,000	19,206,000	18,295,000	16,818,000	15,718,000	13,268,000	11,904,000	12,448,000	12,805,000	12,270,000	12,125,000	10,946,000
Cost Of Revenue	-9.6%	6,495,000	7,187,000	7,765,000	6,809,000	6,707,000	7,097,000	6,705,000	6,923,000	6,267,000	5,808,000	5,231,000	4,823,000	4,097,000	4,553,000	3,763,000	3,250,000	3,083,500	4,196,000	4,562,000	3,872,000	3,525,500
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,165,000	8,943,000	8,093,000	7,336,500	8,609,000	7,708,000	8,253,000	7,420,500
Costs and Expenses	-11.2%	51,702,000	58,195,000	56,147,000	53,852,000	53,840,500	40,807,000	37,864,000	55,212,000	62,258,500	33,735,000	31,853,000	48,831,000	29,150,000	26,691,000	24,824,000	24,716,000	-	-	-	-	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,138,000	20,499,000	20,905,000	21,968,000	24,805,000	24,444,000	24,761,000	25,463,000
S&GA Expenses	3.3%	13,318,000	12,892,000	13,124,000	12,690,000	13,780,000	13,920,000	12,576,000	11,069,000	11,349,000	5,906,000	5,253,000	6,427,000	4,761,000	5,255,000	4,932,000	4,929,000	5,216,500	6,081,000	6,448,000	6,133,000	6,994,000
R&D Expenses	-7.5%	9,634,000	10,410,000	10,519,000	11,527,000	10,854,000	11,784,000	11,068,000	9,883,000	10,215,000	5,254,000	4,646,000	4,960,000	3,706,000	3,587,000	3,440,000	3,646,000	4,270,000	5,473,000	6,351,000	6,938,000	7,203,000
EBITDA Margin	2.4%	-0.35	-0.35	-0.22	-0.08	-0.07	-0.22	-0.28	-0.38	-0.55	-0.81	-0.89	-0.95	-	-	-	-	-	-	-	-	-
Interest Expenses	-222.9%	-704,000	-218,000	-720,000	-805,000	-1,192,000	-1,305,000	-1,183,000	-1,182,000	-540,500	-3,000	2,000	2,000	1,000	2,000	5,000	77,000	87,000	133,000	160,000	169,000	207,500
Income Taxes	56.4%	-426,000	-977,000	-1,374,000	-271,000	3,751,500	26,000	-1,607,000	138,000	2,226,500	396,000	55,000	22,000	35,000	36,000	2,000	3,000	347,500	-1,815,000	6,000	9,000	5,000
Earnings Before Taxes	146.0%	11,749,000	-25,518,000	-24,670,000	-23,234,000	8,462,500	-4,860,000	-4,860,000	-21,991,000	-7,672,500	-11,095,000	-12,660,000	-30,545,000	-12,351,000	-10,977,000	-11,791,000	-12,681,000	-14,536,500	-16,012,000	-16,685,000	-16,297,000	-17,779,500
EBT Margin	-2.2%	-0.48	-0.47	-0.32	-0.17	-0.16	-0.27	-0.35	-0.47	-0.63	-0.87	-0.95	-1.02	-	-	-	-	-	-	-	-	-
Net Income	149.6%	12,175,000	-24,541,000	-23,296,000	-22,963,000	55,825,000	-4,886,000	-3,253,000	-22,129,000	18,317,000	-11,491,000	-12,715,000	-30,567,000	-12,386,000	-11,013,000	-11,793,000	-12,684,000	-14,884,000	-14,197,000	-16,691,000	-16,306,000	-17,784,500
Net Income Margin	-321.2%	-0.46	-0.11	0.03	0.17	0.17	-0.08	-0.14	-0.24	-0.37	-0.87	-0.95	-1.03	-	-	-	-	-	-	-	-	-
Free Cashflow	-424.1%	-29,376,000	9,065,000	-25,998,000	-35,232,000	27,379,000	-21,864,000	-15,942,000	9,399,000	10,194,000	-2,713,000	-7,372,000	6,109,000	-	-	-	-	-	-	-	-	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Assets	4.6%	376	359	356	363	425	470	452	482	518	291	187	191	178	120	107	106	109	118	110	118	118
Current Assets	13.2%	183	161	152	220	278	323	303	337	379	166	170	173	157	97.00	83.00	80.00	81.00	89.00	81.00	87.00	87.00
Cash Equivalents	10.2%	79.00	72.00	63.00	140	184	196	220	238	255	73.00	121	238	115	54.00	50.00	49.00	44.00	49.00	40.00	40.00	38.00
Net PPE	-25.3%	9.00	12.00	11.00	6.00	5.00	5.00	3.00	2.00	2.00	1.00	0.00	0.00	2.00	2.00	3.00	3.00	3.00	3.00	4.00	4.00	4.00
Goodwill	2.4%	80.00	78.00	78.00	46.00	46.00	46.00	46.00	45.00	42.00	28.00	7.00	7.00	7.00	7.00	7.00	7.00	7.00	7.00	5.00	-	-
Liabilities	-0.9%	338	341	317	302	345	399	382	414	432	184	107	105	89.00	85.00	67.00	64.00	61.00	68.00	55.00	60.00	57.00
Current Liabilities	1.4%	189	186	161	152	193	186	170	166	191	173	105	103	88.00	84.00	66.00	63.00	60.00	66.00	54.00	59.00	56.00
Long Term Debt	-35.3%	90.00	138	138	138	138	196	196	195	195	-	-	-	-	-	-	-	-	-	-	-	-
LT Debt, Non Current	-100.0%	-	138	138	138	138	196	196	195	195	-	-	-	-	-	-	-	-	-	-	-	-
Shareholder's Equity	104.0%	38.00	19.00	39.00	61.00	80.00	71.00	70.00	68.00	87.00	108	80.00	86.00	88.00	34.00	40.00	42.00	47.00	51.00	54.00	57.00	60.00
Retained Earnings	2.8%	-429	-442	-417	-394	-371	-375	-371	-367	-345	-335	-323	-310	-280	-267	-256	-245	-232	-217	-203	-186	-170
Additional Paid-In Capital	1.6%	468	461	458	456	451	446	441	436	432	443	404	397	368	302	297	287	280	268	258	244	231
Accumulated Depreciation	-53.7%	8.00	17.00	5.00	4.00	3.00	3.00	3.00	3.00	3.00	3.00	1.00	1.00	3.00	3.00	2.00	2.00	2.00	2.00	1.00	1.00	1.00
Shares Outstanding	0.3%	37.00	37.00	37.00	37.00	36.00	36.00	36.00	36.00	35.00	35.00	33.00	32.00	-	-	-	-	-	-	-	-	-
Float	-	-	-	126	-	-	-	204	-	-	-	338	-	-	-	338	-	-	-	142	-	-

Cashflow (Last 12 Months)

(In Thousands)

Cashflow (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Cashflow From Operations	-371.6%	-28,310	10,422	-24,748	-33,785	28,367	-20,345	-14,419	10,134	10,762	-2,537	-7,200	6,209	151	4,059	-4,280	1,503	-12,004	-1,822	-11,974	-4,632	-16,803
Share Based Compensation	7.3%	2,180	2,032	2,697	3,917	4,381	5,172	4,715	4,847	6,574	5,272	6,609	21,610	5,841	5,111	4,131	4,456	4,608	4,764	5,778	5,507	5,530
Cashflow From Investing	-185.4%	-1,139	1,333	-52,131	-2,947	-988	-4,246	-2,816	-4,054	-5,793	-47,778	-172	-100	-114	-31.00	35.00	-9.00	-11.00	4,924	4,673	2,375	8,728
Cashflow From Financing	1663.3%	36,816	-2,355	-151	-7,981	-39,025	200	145	-23,248	177,108	2,333	540	6,533	60,465	206	5,161	3,606	6,591	5,832	7,708	4,484	-56.00

VERI Income Statement

2023-12-31

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 127,560	$ 149,728
Operating expenses:
Cost of revenue	28,256	27,432
Sales and marketing	52,024	51,345
Research and development	42,090	43,589
General and administrative	73,811	44,177
Amortization	23,715	21,180
Total operating expenses	219,896	187,723
Loss from operations	(92,336)	(37,995)
Gain on debt extinguishment	30,023	19,097
Other income (expense), net	640	(4,350)
Income (loss) before provision for income taxes	(61,673)	(23,248)
(Benefit from) provision for income taxes	(3,048)	2,309
Net income (loss)	(58,625)	(25,557)
Net income (loss) used for calculating net income (loss) per share:
Basic	(58,625)	(25,557)
Diluted	$ (58,625)	$ (25,557)
Net income (loss) per share:
Net loss per share, basic	$ (1.59)	$ (0.71)
Net loss per share, diluted	$ (1.59)	$ (0.71)
Weighted average shares outstanding:
Weighted average shares outstanding, basic	36,909,919	36,033,560
Weighted average shares outstanding, diluted	36,909,919	36,033,560
Comprehensive income (loss):
Net income (loss)	$ (58,625)	$ (25,557)
Foreign currency translation (gain) loss, net of income taxes	66	28
Total comprehensive income (loss)	$ (58,559)	$ (25,529)

VERI Balance Sheet

2023-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 79,439	$ 184,423
Accounts receivable, net	69,266	56,001
Expenditures billable to clients	19,608	22,339
Prepaid expenses and other current assets	14,457	15,242
Total current assets	182,770	278,005
Property, equipment and improvements, net	8,656	5,291
Intangible assets, net	83,423	79,664
Goodwill	80,247	46,498
Long-term restricted cash	867	859
Other assets	19,851	14,435
Total assets	375,814	424,752
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	32,756	36,738
Accrued media payments	93,896	102,064
Client advances	15,452	16,442
Deferred revenue	12,813	2,600
Senior Secured Term Loan, current portion	5,813
Contingent consideration, current	1,000	8,067
Other accrued liabilities	27,095	27,412
Total current liabilities	188,825	193,323
Convertible senior notes, non-current	89,572	137,767
Senior Secured Term Loan, non-current	45,012
Contingent consideration, non-current	633
Other non-current liabilities	13,625	13,811
Total liabilities	337,667	344,901
Commitments and contingencies (Note 9)
Stockholders' equity
Common stock, par value $0.001 per share; 75,000,000 shares authorized; 37,186,348 and 36,321,222 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	38	36
Additional paid-in capital	468,015	451,162
Accumulated deficit	(429,896)	(371,271)
Accumulated other comprehensive loss	(10)	(76)
Total stockholders' equity	38,147	79,851
Total liabilities and stockholders' equity	$ 375,814	$ 424,752

About Veritone Inc

Veritone, Inc., together with its subsidiaries, provides artificial intelligence (AI) computing solutions and services in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models and human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights. The company also provides media advertising agency services, including media planning and strategy, media buying and placement, campaign messaging, clearance verification and attribution, and custom analytics directly to advertisers through outbound sales networking, and client and partner referrals, as well as indirectly through advertising agencies or marketing consultants. It serves media and entertainment, government, legal and compliance, energy, and other vertical markets. The company was formerly known as Veritone Delaware, Inc. and changed its name to Veritone, Inc. in July 2014. Veritone, Inc. was incorporated in 2014 and is headquartered in Denver, Colorado.

CEO	Mr. Ryan Scott Steelberg
WEBSITE	veritone.com
INDUSTRY	Software - Infra
EMPLOYEES	661

Veritone Inc Frequently Asked Questions

What is the ticker symbol for Veritone Inc? What does VERI stand for in stocks?

VERI is the stock ticker symbol of Veritone Inc. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Veritone Inc (VERI)?

As of Wed Apr 24 2024, market cap of Veritone Inc is 132.19 Million. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of VERI stock?

You can check VERI's fair value in chart for subscribers.

What is the fair value of VERI stock?

You can check VERI's fair value in chart for subscribers. The fair value of Veritone Inc is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Veritone Inc is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for VERI so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Veritone Inc a good stock to buy?

The fair value guage provides a quick view whether VERI is over valued or under valued. Whether Veritone Inc is cheap or expensive depends on the assumptions which impact Veritone Inc's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for VERI.

What is Veritone Inc's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Wed Apr 24 2024, VERI's PE ratio (Price to Earnings) is -2.25 and Price to Sales (PS) ratio is 1.04. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. VERI PE ratio will change depending on the future growth rate expectations of investors.