SoundThinking, Inc. (NASDAQ:SSTI) Receives $14.00 Average PT from Analysts

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have earned an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $14.00.

A number of research firms have weighed in on SSTI. Lake Street Capital cut their target price on shares of SoundThinking from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Roth Mkm reaffirmed a “buy” rating and issued a $20.00 price target (down from $30.00) on shares of SoundThinking in a research report on Thursday, November 13th. Cantor Fitzgerald cut SoundThinking from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $10.00 in a research report on Wednesday, January 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of SoundThinking in a research report on Monday, December 29th. Finally, Citizens Jmp decreased their target price on SoundThinking from $19.00 to $16.00 and set a “market outperform” rating for the company in a research note on Thursday, November 13th.

Insider Activity at SoundThinking

In related news, major shareholder Veradace Partners Lp bought 105,880 shares of SoundThinking stock in a transaction that occurred on Wednesday, February 18th. The stock was acquired at an average price of $7.14 per share, for a total transaction of $755,983.20. Following the completion of the purchase, the insider owned 2,008,368 shares in the company, valued at approximately $14,339,747.52. This represents a 5.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 137,417 shares of company stock worth $979,843 over the last three months. 10.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoundThinking

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in shares of SoundThinking during the 2nd quarter worth approximately $33,000. Meeder Asset Management Inc. bought a new stake in shares of SoundThinking during the third quarter valued at approximately $31,000. BNP Paribas Financial Markets raised its stake in shares of SoundThinking by 160.5% in the third quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock valued at $33,000 after purchasing an additional 1,688 shares in the last quarter. Strs Ohio bought a new position in SoundThinking in the first quarter worth $127,000. Finally, Corient Private Wealth LLC bought a new position in SoundThinking in the second quarter worth $132,000. 60.74% of the stock is currently owned by institutional investors.

SoundThinking Stock Performance

Shares of NASDAQ SSTI opened at $7.20 on Wednesday. The business’s 50-day simple moving average is $7.60 and its 200-day simple moving average is $9.10. SoundThinking has a 52 week low of $5.78 and a 52 week high of $19.43. The firm has a market cap of $91.44 million, a price-to-earnings ratio of -9.73 and a beta of 1.16.

SoundThinking (NASDAQ:SSTI) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). The company had revenue of $24.79 million during the quarter, compared to analyst estimates of $24.68 million. SoundThinking had a negative return on equity of 12.73% and a negative net margin of 9.05%. As a group, equities research analysts forecast that SoundThinking will post -0.42 earnings per share for the current year.

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. It offers ShotSpotter, an acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; and ResourceRouter, a software that directs patrol and community anti-violence resources to help maximize their impact.