SoundThinking, Inc. (NASDAQ:SSTI) Receives Average Recommendation of “Hold” from Analysts

SoundThinking, Inc. (NASDAQ:SSTI) has been assigned an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $14.00.

SSTI has been the topic of several research analyst reports. Lake Street Capital dropped their price target on SoundThinking from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundThinking in a research report on Monday, December 29th. Cantor Fitzgerald lowered shares of SoundThinking from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $10.00 in a research report on Wednesday, January 7th. Roth Mkm restated a “buy” rating and set a $20.00 price objective (down from $30.00) on shares of SoundThinking in a research note on Thursday, November 13th. Finally, Zacks Research raised shares of SoundThinking from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th.

Institutional Investors Weigh In On SoundThinking

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Williams & Novak LLC acquired a new position in shares of SoundThinking in the 4th quarter valued at about $115,000. Kopion Asset Management LLC raised its position in SoundThinking by 52.1% during the fourth quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock valued at $7,806,000 after acquiring an additional 333,170 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in SoundThinking by 7.6% in the third quarter. JPMorgan Chase & Co. now owns 47,346 shares of the company’s stock valued at $571,000 after acquiring an additional 3,330 shares during the period. Connective Capital Management LLC purchased a new stake in SoundThinking in the 3rd quarter worth approximately $297,000. Finally, Wasatch Advisors LP grew its stake in shares of SoundThinking by 3.7% during the 3rd quarter. Wasatch Advisors LP now owns 554,085 shares of the company’s stock worth $6,682,000 after purchasing an additional 19,848 shares during the period. 60.74% of the stock is owned by institutional investors and hedge funds.

SoundThinking Stock Up 7.2%

SSTI stock opened at $7.00 on Friday. The stock has a market capitalization of $88.90 million, a PE ratio of -8.33 and a beta of 1.16. SoundThinking has a 52 week low of $5.78 and a 52 week high of $19.43. The firm has a 50 day moving average of $7.66 and a 200 day moving average of $9.75.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). SoundThinking had a negative net margin of 10.44% and a negative return on equity of 14.57%. The company had revenue of $25.10 million for the quarter, compared to analyst estimates of $27.97 million. On average, equities research analysts expect 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.