SoundThinking (NASDAQ:SSTI) Price Target Lowered to $19.00 at Lake Street Capital

SoundThinking (NASDAQ:SSTI) had its price objective trimmed by Lake Street Capital from $20.00 to $19.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

SSTI has been the topic of several other reports. Roth Mkm reaffirmed a “buy” rating and set a $30.00 price objective on shares of SoundThinking in a report on Wednesday, May 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price objective on shares of SoundThinking in a report on Wednesday, May 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SoundThinking presently has a consensus rating of “Buy” and an average price target of $20.80.

SoundThinking Stock Performance

Shares of NASDAQ SSTI opened at $12.95 on Wednesday. The company’s fifty day moving average price is $13.59 and its 200 day moving average price is $14.84. SoundThinking has a 1 year low of $9.33 and a 1 year high of $19.43. The company has a market capitalization of $164.08 million, a PE ratio of -16.39 and a beta of 1.26.

SoundThinking (NASDAQ:SSTI) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.15). SoundThinking had a negative return on equity of 13.82% and a negative net margin of 9.74%. The firm had revenue of $25.89 million for the quarter, compared to analysts’ expectations of $26.61 million. On average, equities analysts expect that SoundThinking will post -0.42 EPS for the current year.

Insider Transactions at SoundThinking

In other news, insider Nasim Golzadeh sold 1,809 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $15.46, for a total value of $27,967.14. Following the completion of the sale, the insider directly owned 94,134 shares in the company, valued at $1,455,311.64. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 3,474 shares of company stock worth $53,205 over the last quarter. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On SoundThinking

A number of hedge funds have recently modified their holdings of SSTI. MetLife Investment Management LLC acquired a new stake in SoundThinking during the first quarter worth about $98,000. Strs Ohio acquired a new stake in SoundThinking during the first quarter worth about $127,000. R Squared Ltd acquired a new stake in SoundThinking during the second quarter worth about $156,000. GAMMA Investing LLC increased its position in SoundThinking by 6,553.7% during the first quarter. GAMMA Investing LLC now owns 13,374 shares of the company’s stock worth $227,000 after purchasing an additional 13,173 shares during the last quarter. Finally, Rhumbline Advisers increased its position in SoundThinking by 10.1% during the first quarter. Rhumbline Advisers now owns 14,980 shares of the company’s stock worth $254,000 after purchasing an additional 1,373 shares during the last quarter. 60.74% of the stock is currently owned by institutional investors and hedge funds.

SoundThinking Company Profile

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.