SoundThinking (NASDAQ:SSTI) Stock Price Expected to Rise, Lake Street Capital Analyst Says

SoundThinking (NASDAQ:SSTI) had its price objective lifted by Lake Street Capital from $18.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price objective points to a potential upside of 34.77% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Craig Hallum upgraded SoundThinking from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price target on shares of SoundThinking in a research report on Wednesday. Finally, Roth Mkm reissued a “buy” rating and set a $30.00 price objective on shares of SoundThinking in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.00.

SoundThinking Stock Down 7.3%

Shares of SSTI opened at $14.84 on Wednesday. The stock has a fifty day simple moving average of $16.20 and a two-hundred day simple moving average of $14.19. The company has a market capitalization of $187.96 million, a PE ratio of -123.66 and a beta of 1.21. SoundThinking has a 52-week low of $9.33 and a 52-week high of $19.43.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). SoundThinking had a negative return on equity of 8.74% and a negative net margin of 1.39%. The business had revenue of $28.35 million during the quarter, compared to analysts’ expectations of $26.91 million. As a group, equities analysts anticipate that SoundThinking will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SoundThinking

A number of institutional investors have recently modified their holdings of SSTI. Kopion Asset Management LLC grew its holdings in SoundThinking by 24.2% in the 4th quarter. Kopion Asset Management LLC now owns 727,144 shares of the company’s stock valued at $9,497,000 after buying an additional 141,630 shares during the period. JPMorgan Chase & Co. boosted its position in shares of SoundThinking by 93.5% in the third quarter. JPMorgan Chase & Co. now owns 56,072 shares of the company’s stock worth $650,000 after acquiring an additional 27,091 shares during the last quarter. Barclays PLC grew its holdings in SoundThinking by 245.5% in the third quarter. Barclays PLC now owns 24,755 shares of the company’s stock valued at $286,000 after purchasing an additional 17,591 shares during the period. Rice Hall James & Associates LLC grew its holdings in SoundThinking by 9.8% in the fourth quarter. Rice Hall James & Associates LLC now owns 397,728 shares of the company’s stock valued at $5,194,000 after purchasing an additional 35,584 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in SoundThinking by 29.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,733 shares of the company’s stock worth $924,000 after purchasing an additional 15,943 shares during the last quarter. Institutional investors and hedge funds own 60.74% of the company’s stock.

About SoundThinking

SoundThinking, Inc, a public safety technology company that provides transformative solutions and strategic advisory services for law enforcement and civic leadership. Its SafetySmart Platform, an integrated suite of data-driven tools that enable law enforcement and community violence prevention and health organizations to be efficient in public safety outcomes.