SoundThinking, Inc. (NASDAQ:SSTI) Given Consensus Rating of “Buy” by Analysts

SoundThinking, Inc. (NASDAQ:SSTI) has earned a consensus recommendation of “Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $20.80.

A number of brokerages have issued reports on SSTI. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 target price on shares of SoundThinking in a research report on Wednesday, May 14th. Lake Street Capital reduced their price target on shares of SoundThinking from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday. Roth Mkm reiterated a “buy” rating and set a $30.00 price target on shares of SoundThinking in a research report on Wednesday, May 14th. Finally, Wall Street Zen lowered shares of SoundThinking from a “hold” rating to a “sell” rating in a research report on Saturday.

SoundThinking Stock Performance

Shares of SSTI opened at $12.76 on Friday. The firm’s 50-day simple moving average is $13.45 and its 200 day simple moving average is $14.82. SoundThinking has a 52 week low of $9.33 and a 52 week high of $19.43. The firm has a market cap of $161.71 million, a P/E ratio of -16.15 and a beta of 1.26.

SoundThinking (NASDAQ:SSTI) last announced its 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 13.76% and a negative net margin of 9.74%. The business had revenue of $25.89 million for the quarter, compared to analyst estimates of $26.61 million. As a group, equities analysts forecast that SoundThinking will post -0.42 earnings per share for the current year.

Insider Activity

In other news, insider Nasim Golzadeh sold 1,809 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $15.46, for a total transaction of $27,967.14. Following the completion of the transaction, the insider owned 94,134 shares of the company’s stock, valued at approximately $1,455,311.64. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 3,474 shares of company stock worth $53,205 over the last ninety days. 10.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoundThinking

Several large investors have recently modified their holdings of the business. MetLife Investment Management LLC acquired a new stake in SoundThinking in the first quarter worth $98,000. Strs Ohio acquired a new stake in SoundThinking in the first quarter worth $127,000. R Squared Ltd acquired a new stake in SoundThinking in the second quarter worth $156,000. GAMMA Investing LLC grew its holdings in SoundThinking by 6,553.7% in 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 period. Finally, Rhumbline Advisers grew its holdings in SoundThinking by 10.1% in 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 period. Institutional investors 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.