SoundThinking, Inc. (NASDAQ:SSTI) Receives $10.83 Average Target Price from Brokerages

SoundThinking, Inc. (NASDAQ:SSTI) has earned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $10.8333.

A number of equities analysts have recently commented on SSTI shares. Wall Street Zen cut shares of SoundThinking from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Northland Securities set a $10.00 price target on shares of SoundThinking in a research note on Friday, August 14th. Roth Capital set a $13.00 price objective on shares of SoundThinking in a research report on Friday, August 14th. Cantor Fitzgerald lowered their price objective on shares of SoundThinking from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Finally, Citizens Jmp restated a “market perform” rating on shares of SoundThinking in a research note on Friday, August 14th.

SoundThinking Stock Performance

SoundThinking stock opened at $5.78 on Friday. The company has a market capitalization of $74.85 million, a P/E ratio of -4.48 and a beta of 1.16. SoundThinking has a fifty-two week low of $5.41 and a fifty-two week high of $12.76. The stock has a 50-day simple moving average of $6.95 and a 200-day simple moving average of $7.14.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.12). The firm had revenue of $23.89 million for the quarter, compared to analyst estimates of $25.77 million. SoundThinking had a negative return on equity of 23.77% and a negative net margin of 16.92%. As a group, analysts forecast that SoundThinking will post -1.06 earnings per share for the current year.

Hedge Funds Weigh In On SoundThinking

Several institutional investors have recently added to or reduced their stakes in SSTI. Royal Bank of Canada raised its stake in SoundThinking by 88.6% during the 1st quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock valued at $28,000 after acquiring an additional 1,960 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of SoundThinking by 31.7% in the second quarter. Versant Capital Management Inc now owns 9,305 shares of the company’s stock valued at $84,000 after purchasing an additional 2,239 shares during the period. Sei Investments Co. acquired a new position in shares of SoundThinking in the first quarter valued at approximately $92,000. Bank of America Corp DE raised its stake in shares of SoundThinking by 16.2% during the first quarter. Bank of America Corp DE now owns 14,299 shares of the company’s stock worth $95,000 after purchasing an additional 1,992 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of SoundThinking during the second quarter worth $193,000. Institutional investors and hedge funds own 60.74% of the company’s stock.

SoundThinking Company Profile

SoundThinking, Inc (NASDAQ:SSTI) is a public safety technology company that provides data-driven tools for law enforcement agencies and communities. The company’s platform is designed to help public safety organizations detect, analyze and respond to incidents, with a focus on improving situational awareness and investigative efficiency.

Its product portfolio includes ShotSpotter, a subscription-based acoustic gunshot detection service that uses sensors and software to identify and locate possible gunfire; CrimeTracer, a law enforcement search and investigative analytics platform; and ResourceRouter, which supports data-informed decisions about the deployment of public safety resources.